Texas sales tax revenue increases 9.4%

Texas Comptroller of Public Accounts Susan Combs will distribute $530.8 million in sales tax revenue to local governments this month.

Texas Comptroller of Public Accounts Susan Combs will distribute $530.8 million in sales tax revenue to local governments this month.

Statewide sales tax revenue was $2.17 billion in December, up 9.4 percent compared to December 2011, Combs said in a Jan. 9 statement.

This month?s total allocation of $530.8 million to cities, counties, transit systems and special purpose taxing districts is a 7.3 percent increase from January 2012.

The city of Houston?s January 2013 net payment of $44.88 million is 7.37 percent more than its year-earlier payment of nearly $41.8 million. Allocations for all local governments can be found on Combs' website.

?Strong sales tax collections continue in most major economic sectors in Texas,? Combs said in a Jan. 9 statement. ?The strongest growth was from business spending-driven sectors including oil and natural gas, manufacturing and construction.?

This month?s sales tax figures represent November sales reported by monthly tax filers.

Olivia Pulsinelli is the web producer for the Houston Business Journal's award-winning website.

Source: http://feedproxy.google.com/~r/vertical_26/~3/QD_0QOKFMJk/texas-sales-tax-revenue-increases-94.html

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