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Texas sales tax revenue grows from year ago

Texas sales tax revenue grows from year ago
Wednesday, December 7, 2011 - 4:19pm

(AP) - State sales tax revenue was up 12.2 percent last month in Texas. That's compared to receipts from the previous November. Texas Comptroller Susan Combs announced the figures Wednesday.

She says it marks the 20th consecutive month of revenue growth.

Sales taxes are one of the largest sources of revenue for the state and a 2009 slump contributed to this year's state budget shortfall.

Combs says the numbers have improved in all major sectors, though receipts from the oil and natural gas industries are the strongest source of growth. Retail and restaurant  ectors also showed strong increases.

The state collected $2.07 billion in November, based on October sales.

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