Texas State Sales Tax Allocations for August 2014
The Texas Comptroller’s Office has released state sales tax revenue data for the month of August.
Comptroller Susan Combs announced on Monday, September 8, state sales tax revenue for August amounted to $2.57 billion, which reflects a 7.5 percent growth from August 2013.
The Comptroller will allocate $627.8 million across the state, which reflects a 9.2 percent growth compared to last year. Cities will receive the bulk of the allocations at $408 million with Transit systems coming second at $141 million. Lubbock is expected to receive $4.9 million, down from $5.8 million in July, Midland $5.4 million and Amarillo $5.8 million.
Abilene, Amarillo, Odessa, Midland and Lubbock were all listed in the top twenty cities to receive sales tax allocation during 2014.
“The latest monthly gains were led by remittances from the oil and natural gas, wholesale trade, and retail trade sectors,” Combs said. “Fiscal year 2014 ended with total collections at $27.27 billion, up 5.5 percent over the previous year. Growth in both business and consumer spending fostered the gains for the year.”