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Texas Comptroller Releases 2022-2023 Biennial Revenue Estimate

Dated Jan. 12, 2021

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.

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