State sales tax revenue totaled $2.6 billion in April - FOX34 Lubbock

State sales tax revenue totaled $2.6 billion in April

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AUSTIN, Texas -

Texas sales tax revenue had its biggest drop since 2010 last month.

Revenue dropped 9.3% from this time last year. The majority of this revenue is based on sales made in March.

Social distancing did affect those numbers, but requirements were not in place across much of the state until late-March. Meaning, the impact of those measures only affected a portion of the revenue.

Sales tax accounts for 57% of all tax collections and is the largest source of state funding for the state budget.

Next month could show steeper declines due to closing non-essential businesses and plummeting oil prices in April.

 

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