Comptroller Glenn Hegar
Comptroller of Public Accounts Glenn Hegar has announced a decline in May sales tax receipts of 13.2% from May 2019. According to the Comptroller, this represents the largest year-over-year reduction since the financial crisis in 2010. Unsurprisingly, business interruption caused by the coronavirus pandemic is the culprit. Comptroller Hegar warned that although business activity will pick up with the gradual reopening of the economy, “operations resuming at reduced capacity will result in continued reductions in employment, income and activity subject to sales tax for months to come.” Collections of other taxes sunk to record low levels as well, including motor vehicle sales and fuels taxes, natural gas and oil production taxes, the hotel occupancy tax, and alcoholic beverage taxes. Read a copy of Comptroller Hegar’s remarks here: http://operations resuming at reduced capacity will result in continued reductions in employment, income and activity subject to sales tax for months to come.”
