Texas Comptroller Glenn Hegar today said state sales tax revenue totaled $4.01 billion in May, 4.5 percent more than in May 2023. The majority of May sales tax revenue is based on sales made in April and remitted to the agency in May.
The five Lamb County cities received a combined total of $143,813.60 for sales tax revenue for May.
City by City, their returns were: The City of Amherst received $2,666.43, which is a 17.63% increase over last year’s $2,266.75 return. So far this year, Amherst has received $17,215.82, a 10.40% increase over the $15,593.38 it received by this time last year.
The City of Earth received $7,281.49, which is a 7.38% increase over last year’s $6,780.50 return. So far this year, Earth has received $44,725.71, a 16.08% decrease over the $53,297.87 it received by this time last year.
The City of Littlefield received $94,322.89, which is a 19.66% decrease over last year’s $117,410.96 return. So far this year, Littlefield has received $678,767.25, a 13.65% decrease over the $786,138.77 it received by this time last year.
The City of Olton received $24,587.75, which is a 12.32% increase over last year’s $21,890.06 return. So far this year, Olton has received $ 143,751.60, an 11.41% increase over the $129,019.81 it received by this time last year.
The City of Sudan received $14,955.04, which is an 18.49% increase over last year’s $12,620.31 return. So far this year, Sudan has received $88,393.61, a 5.34% decrease over the $93,389.26 it received by this time last year.
Over in Hockley County, the City of Anton received $7,676.24, which is a 6.56% increase over last year’s $7,203.29 return. So far this year, Anton has received $3856,720.85, a 1.83% increase over the $55,700.06 it received by this time last year.
“Monthly state sales tax collections soundly exceeded collections from last May, contrary to signs of slowing spending in recent months,” Hegar said. “Growth in receipts occurred for almost all major sectors.
“Receipts from the major sectors driven by business spending, with the exception of the mining sector, were up compared with a year ago. Receipts from consumer spending-driven retail trade were up, led by online merchants, while receipts from live entertainment services also grew. Receipts from restaurants grew at slightly below the rate of inflation for food away from home.”
Total sales tax revenue for the three months ending in May 2024 was up 2.2 percent compared with the same period a year ago. Sales tax is the largest source of state funding for the state budget, accounting for 57 percent of all tax collections.
Texas collected the following revenue from other major taxes:
• motor vehicle sales and rental taxes — $633 million, up 6 percent from May 2023; • motor fuel taxes — $325 million, down 4 percent from May 2023; ·oil production tax — $556 million, up 12 percent from May 2023; ·natural gas production tax — $180 million, down 9 percent from May 2023; ·hotel occupancy tax — $71 million, down 1 percent from May 2023; and ·alcoholic beverage taxes — $152 million, down 3 percent from May 2023.
Fiscal 2024 franchise tax collections totaled $6.38 billion year-todate through May. Compared with collections through May 2023, year-to-date franchise tax collections were up 2.6 percent, higher than what was projected in the Comptroller’s 2024-25 Certification Revenue Estimate.