Pub. 60 2019-2020 Issue 3

30 2 G L E N N H E G A R • TE X AS COMP TROLLER OF PUBLIC ACCOUNTS % OF TAXES SALES AND USE TAXES 57.3% $34,023,916,225 MOTOR VEHICLE SALES AND RENTAL TAXES 8.4% $5,010,592,018 MOTOR FUEL TAXES 6.3% $3,743,004,327 FRANCHISE TAX 7.1% $4,217,868,701 OIL PRODUCTION TAX 6.5% $3,886,823,879 NATURAL GAS PRODUCTION TAX 2.8% $1,685,680,675 INSURANCE TAXES 4.4% $2,599,024,669 CIGARETTE AND TOBACCO TAXES 2.4% $1,410,390,955 ALCOHOLIC BEVERAGES TAXES 2.3% $1,369,402,271 HOTEL OCCUPANCY TAX 1.1% $636,110,128 UTILITY TAXES 0.8% $471,361,566 OTHER TAXES 0.5% $326,546,683 A F I E L D G U I D E T O T H E TA X E S O F T E X A S The data represented in this report is available in accessible data form (Excel). E very year, the state of Texas collects billions of dollars in state taxes and fees, federal receipts and other sources of revenue. These funds are used to pay for all of the responsibilities of the state government, including the education of more than 5 million public school students and the provision of health insurance for more than 4 million low-income Texans. This guide provides an overview of the major Texas state taxes. Read on to: • learn how major taxes have contributed to state revenue during the past 10 years; • see on one page the future revenue estimates, exemption value estimates and tax allocations; and • connect to other in-depth resources about state taxes and finances. State Tax Revenue By Source F I S C A L 2 0 1 9 All Funds, Excluding Trusts TOTAL = $59,380,722,097 Source: Annual Cash Report 2019 , Texas Comptroller of Public Accounts Note: Percentages do not sum to 100.0 due to rounding. O verall, Texas’ tax revenue increased by 6.8 percent in fiscal 2019 to $59.4 billion, with sales, franchise, oil and natural gas pro- duction taxes, posting significant gains over the previous year. State tax coll 2014 then saw saw a reboun moderate gro Sources: Texa 2010 -10 0 10 20 30 40 50 Where Do While Texa fund the f • Texas im on sales taxable and amu • Motor v at 6.25 trade-in taxed at depend • Texas’ m on the t gasoline per gallo • The stat kinds of corpora the milli around ANEXCERPT FROM AFIELDGUIDE TOTHE TAXESOF TEXAS •JANUARY2020 Glenn Hegar, Texas Comptroller of Public Accounts