Texas Comptroller of Public Accounts
FOR IMMEDIATE RELEASE
March 1, 2022
(AUSTIN) — Texas Comptroller Glenn Hegar today said state sales tax revenue totaled $3.23 billion in February, 28.6 percent more than in February 2021; however, after adjusting last year’s February totals to account for sales tax returns not collected until March 1, 2021, due to Winter Storm Uri, February 2022 sales tax revenue was up 20.5 percent over comparable collections last year.
The majority of February sales tax revenue is based on sales made in January and remitted to the agency in February.
“State sales tax collections continued to surge and reached an all-time February high, with receipts from all major economic sectors coming in well above year-ago levels,” Hegar said. “Business and consumer spending remain robust, with receipts from most sectors having strongly surpassed pre-pandemic levels.
“The strongest growth was in receipts from sectors driven by business spending, with the largest increase in receipts from the oil and gas mining sector, although receipts in that sector remain below pre-pandemic levels. Receipts from the construction, manufacturing and wholesale trade sectors continued to exhibit double-digit growth from a year ago.
“In the retail-trade sector, double-digit growth continued in receipts from home improvement and electronic shopping, segments that have been boosted by pandemic spending patterns.
“Receipts from restaurants, a sector still depressed a year ago, continued to see double-digit gains compared to last year and are well above pre-pandemic levels. Sharp increases were also evident in receipts from entertainment venues and ticket vendors, as people return to sporting, music and other live entertainment events.”
Total sales tax revenue for the three months ending in February 2022, after adjusting for March 1, 2021, activity, was up 23.5 percent compared to the same period a year ago. Sales tax is the largest source of state funding for the state budget, accounting for 59 percent of all tax collections.
Texas collected the following revenue from other major taxes, some of which also were affected by the returns delayed to March 1 due to Winter Storm Uri:
For details on all monthly collections, visit the Comptroller’s Monthly State Revenue Watch. For an extensive history of tax policy developments and fees since 1972, visit our updated Sources of Revenue publication.