State sales tax revenue released for July hit $3.88 billion, the highest monthly collection on record.
The total tax collected was 14.7 percent higher than last July, another indicator the Texas economy continues to bloom following the pandemic-related slowdown.
Most of the sales tax revenue is based on sales made in June and remitted to the Texas Comptroller’s Office in July.
“July state sales tax collections showed continued vigorous growth from non-retail sectors,” Comptroller Glenn Hegar said. “The sharpest increase from a year ago was once again in receipts from oil and gas mining, but receipts from the construction, manufacturing and wholesale trade sectors were also up by double digits for the eighth consecutive month.”
“Receipts from retail trade and restaurants increased at a moderate pace, with some retail segments showing no growth or declining from a year ago as pent-up demand from the pandemic wanes and consumer spending priorities shift in response to inflation,” he added.
Also showing double-digit growth were receipts from auto dealers and parts stores, as well as home improvement stores. Receipts from clothing and apparel stores, home furnishings stores and sporting goods and hobby stores were flat compared with a year ago, while electronics and appliance sales lost ground.
Here’s how the major categories broke down for the month:
— Motor vehicle sales and rental taxes — $605 million, up 5 percent from July 2021.
— Motor fuel taxes — $324 million, up 3 percent from July 2021.
— Oil production tax — $694 million, the highest monthly collections on record, up 84 percent from July 2021.
— Natural gas production tax — $532 million, the highest monthly collections on record, up 185 percent from July 2021.
— Hotel occupancy tax — $73 million, up 22 percent from July 2021.
— Alcoholic beverage taxes — $149 million, up 13 percent from July 2021.
