Sales tax revenue in December bested that the figure posted in December 2018, state Comptroller Glenn Hegar said.
December 2019 sales tax revenue totaled $3.01 billion, nearly five percent more than the year before. Receipts from construction, information services and restaurant sectors contributed to the growth.
"While revenue growth was slightly buoyed by collections from remote sellers and online marketplace providers, collections from retail trade were depressed due to significantly fewer Christmas shopping days in November this year compared to the previous year," the comptroller said.
A statement issued by Hegar’s office said most of the December sales tax revenue is based on sales made in November and paid to the agency in December. According to the release, total sales tax revenue for the three months ending in December 2019 was up 6.0 percent compared to the same period a year ago.
The comptroller’s also reported that the office distributed $764 million in monthly sales tax revenue to local governments. Cities, counties, transit systems and special purpose taxing districts received $763.8 million in local sales tax allocations for the month, a four percent increase from last year.
The comptroller’s Monthly Sales Tax Allocation Comparison Summary Reports bears details on January sales tax allocations to individual cities, counties, transit systems and special purpose districts.
Sales tax accounts for approximately 60 percent of all tax collections and are the largest source of funding for the state budget.
Motor vehicle sales and rental taxes produced the most with $427.3 million, up 7.9 percent from December 2018. Oil production taxes ranked second with $362.5 million generated. Motor fuel taxes and natural gas production taxes combined for $420 million.