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O&G Tax Income Continues Increasing Boon for Texas

O&G Tax Income Continues Increasing Boon for Texas

October 3, 2022 -- Natural gas tax income for the State of Texas was up 91% year-over-year during the month of September, according to the latest figures from Comptroller Glenn Hegar's office. Overall state sales tax revenue totaled $3.69 billion in September, 17.2% more than in the same month of 2021, with the majority of that sales tax revenue based on sales made in August and remitted to the agency in September. Natural gas production tax totaled $480 million, up 91% from a year ago. And the state's oil production tax income was $552 million, up 41% from September 2021. Motor fuel taxes were up 2% year-over-year at $328 million, up 2 percent from September 2021. Meanwhile motor vehicle sales and rental taxes were up 13% year-over-year at $616 million. ...  
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