Texas Comptroller Releases 2022-2023 Biennial Revenue Estimate
Citations: 2022-2023 Biennial Revenue Estimate
SUMMARY BY TAX ANALYSTS
The Texas comptroller of public accounts has released the 2022-2023 biennial revenue estimate, projecting $112.5 billion in revenue, which is a 0.4 percent decrease from available funds for the previous biennium, attributable to COVID-19; general revenue-related collections are estimated at $119.6 billion.
Revenues from sales tax, motor vehicle taxes, oil production tax, natural gas tax, and franchise tax are expected to increase from the 2020-2021 biennium by 5.1 percent, 5.1 percent, 10.1 percent, 66.9 percent, and 5.1 percent, respectively.
The revenue estimate was announced in a press release.