Texas Comptroller of Public Accounts
FOR IMMEDIATE RELEASE
September 6, 2017
(AUSTIN) — Texas Comptroller Glenn Hegar today released totals for fiscal 2017 state revenues, in addition to announcing monthly state revenues for August.
"Revenues in fiscal 2017, especially general revenue-related collections, were right in line with our projections in the Biennial Revenue Estimate released in January," Hegar said. "As we projected, the Texas economy continued to improve in 2017, which in turn resulted in improved tax collections."
Hegar also said today that state sales tax revenue totaled $2.48 billion in August, 0.9 percent less than in August 2016.
"The slight decline in August state sales tax revenue was principally due to refunds resulting from our regular auditing process," Hegar said. "Receipts from most economic sectors grew significantly, but receipts from retail trade remained close to last year's level."
Total sales tax revenue for the three months ending in August 2017 is up 5.5 percent compared to the same period a year ago. Sales tax revenue is the largest source of state funding for the state budget, accounting for 58 percent of all tax collections. Motor vehicle sales and rental taxes, motor fuel taxes and oil and natural gas production taxes also are large revenue sources for the state.
In August 2017, Texas collected the following revenue from those taxes:
For details on all monthly collections, visit the Comptroller's Monthly State Revenue Watch.