Texas sales tax revenue up 9.4 %
Texas saw its sales tax collections rise again in December, with revenue of $2.17 billion, an increase of 9.4 percent over the same month last year, the state comptroller’s office said Wednesday.
It was the 33rd consecutive month in which sales tax revenue has increased, according to data from the comptroller’s office.
Sales tax is an important source of revenue, paying for a number of state services, from schools to prisons. The sales tax figures represent mostly sales made in November.
“Strong sales tax collections continue in most major economic sectors in Texas,” Texas Comptroller Susan Combs said in a statement. “The strongest growth was from business spending-driven sectors including oil and natural gas, manufacturing and construction.”
...I expect that business spending in oil and gas exploration, manufacturing and construction to continue strong in 2013. The Eagle Ford shale play along with new shale plays in the Permian Basin will continue to drive growth in the Texas economy along with manufacturing tied to low price of natural gas.