Texas –Sales Tax Revenue Declines

SALT Report 3708 – In August 2015, the state’s largest source of income, sales tax revenue, dropped 0.4% to $2.6 billion from the previous August. State sales tax revenue grew for 62 straight months until June 2015, when revenue dropped 1.4 percent compared to the year before. Chris Bryan, a spokesman for the comptroller’s office, states that last month’s decline was largely due to a 33 percent drop in tax revenue from sales of equipment and services used in the oil, gas and mining industries.

Further Information:

http://www.expressnews.com/business/local/article/Texas-sales-tax-revenue-drops-for-second-time-6497061.php