Pub 61 2020-2021 Issue 3

19 SPRING 2021 2 G L E N N H E G A R • T E X A S COMP TROL L ER OF PUBL I C ACCOUNT S % OF TAXES SALES AND USE TAXES 59.4% $34,099,115,139 MOTOR VEHICLE SALES AND RENTAL TAXES 8.4% $4,815,240,348 MOTOR FUEL TAXES 6.1% $3,524,712,191 FRANCHISE TAX 7.7% $4,418,420,390 OIL PRODUCTION TAX 5.6% $3,229,346,924 NATURAL GAS PRODUCTION TAX 1.6% $925,472,744 INSURANCE TAXES 4.8% $2,741,653,397 CIGARETTE AND TOBACCO TAXES 2.3% $1,299,013,633 ALCOHOLIC BEVERAGES TAXES 2.0% $1,125,321,869 HOTEL OCCUPANCY TAX 0.8% $470,702,524 UTILITY TAXES 0.8% $478,154,826 OTHER TAXES 0.4% $252,664,439 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 repor t are avai lable 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 nearly 5.5 million public school students and the provision of health insurance for more than 4.6 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 revenue collections, 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 2 0 All Funds, Excluding Trusts TOTAL = $57,379,818,422 Source: Annual Cash Report 2020 , Texas Comptroller of Public Accounts Note: Percentages may not sum to 100.0 due to rounding. T exas’ total tax revenue fell by 3.4 % in fiscal 2020, to $57.4 billion. Sales taxes posted slight gains compared to the previous year, but many tax collections declined due to COVID-19. State tax co Collections rebounded 2019 as tax Some tax ca collapse in which was b Sources: T 0% 10% 20% 30% 40% 50% 60% 201 Where D While Te fund the • Texas on sal on tax and a • Texas 6.25 % allowa at 6.2 on the • Texas depen comm 20 ce • The s certai such a corpo busin 140,0 Continued on page 20