Home Broker News Network
SEE OTHER BRANDS

Global take on real estate news

PRESS RELEASE: State Sales Tax Revenue Totaled $4 Billion in June

TEXAS, July 1 - (AUSTIN)  Acting Texas Comptroller Kelly Hancock today said state sales tax revenue totaled $4.04 billion in June, 2.5 percent more than in June 2024. The majority of June sales tax revenue is based on sales made in May and remitted to the agency in June.

“State sales tax collections exhibited moderate growth compared with June 2024,” Hancock said. “This comes on the heels of consecutive months of strong growth in both April and May.

“Among the sectors influenced primarily by business spending, remittances from the manufacturing sector showed the strongest growth and receipts from the construction sector had positive growth for the first time since February. Collections from the mining sector were down after exhibiting strong growth the previous two months.

“Among the large sectors driven mainly by consumer spending, the retail trade and service sectors were both up moderately compared with June 2024. Within retail trade, the largest sector — electronic shopping — had the largest gain, showing double digit growth compared with the same month a year ago. Receipts from furniture stores and home improvement centers declined significantly from a year ago, and collections from general merchandise stores declined slightly.  

“Receipts from restaurants came in higher than a year ago, above the rate of inflation for food away from home for May.”

Total sales tax revenue for the three months ending in June 2025 was up 4.8 percent compared with the same period a year ago. Sales tax is the largest source of state funding for the state budget, accounting for 58 percent of all tax collections.

Texas collected the following revenue from other major taxes:

  • motor vehicle sales and rental taxes — $629 million, up 12 percent from June 2024;
  • motor fuel taxes — $343 million, up 1 percent from June 2024;
  • oil production tax — $405 million, down 18 percent from June 2024;
  • natural gas production tax — $214 million, up 25 percent from June 2024;
  • hotel occupancy tax — $68 million, down 5 percent from June 2024; and
  • alcoholic beverage taxes — $161 million, up less than 1 percent from June 2024.

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.

Legal Disclaimer:

EIN Presswire provides this news content "as is" without warranty of any kind. We do not accept any responsibility or liability for the accuracy, content, images, videos, licenses, completeness, legality, or reliability of the information contained in this article. If you have any complaints or copyright issues related to this article, kindly contact the author above.

Share us

on your social networks:
AGPs

Get the latest news on this topic.

SIGN UP FOR FREE TODAY

No Thanks

By signing to this email alert, you
agree to our Terms of Service