Sales tax

Texas continued its record-setting pace in October with monthly sales tax revenue growing 7% year-over-year to $2.82 billion.

Nearly two in three finance officers in large cities predict a recession in the next year or two.

A Senate committee has approved a bill requiring remote sellers to collect the state's 6% sales tax. It could generate $700 million in new revenue.

Only Florida and Louisiana remain among the sales tax states that have not enacted laws to require remote collection to reap the benefit of the June 2018 Supreme Court ruling in Wayfair v. South Dakota.

Thirty seven states and the District of Columbia now have laws requiring remote sales tax collection, according to the National Conference of State Legislatures.

The latest report from the state comptroller says $876.8 million was distributed to cities, counties, transit systems and special purpose taxing districts.

With its population and economy growing, Texas marked its 21st straight monthly record for sales tax collection.

The tax hike should provide new recurring revenue that restores structural balance after years of weak reserve levels, according to S&P Global Ratings.

A surging population and a healthy economy kept local governments riding high in sales tax revenue for the first half of the year.

Texas surpassed $3 billion in sales tax revenue, the highest total for any month on record.

A mechanism for taxing internet sales on out-of-state sellers could mean an additional $850 million of revenue for Texas, according to legislative analysis.

A higher state sales tax would be used to help fund public schools, in connection with a cap on local property taxes.

The state collected $2.6 billion, a 9% increase over the same month of 2018, said State Comptroller Glenn Hegar.

A 2018 high court decision has been positive for state and local government budgets, but not as much a boost as some of the estimates had predicted.

Small holders are disproportionately impacted by the way the restructuring was conducted, said Glenn Ryhanych of BlueList Partners.

The owner of the Indy Eleven says a $150 million, 22,000-seat soccer stadium would help the team move up to Major League Soccer.

New York will require out-of-state retailers with annual sales of more than $300,000 or 100 transactions in the state to collect and remit sales tax.

Mayor Rahm Emanuel's administration is interested in a similar structure for a pension obligation bond.

The spending plan uses money generated by a new online sales tax and funds unspent by state agencies.

Four states will become the latest to require out-of-state e-commerce retailers to collect sales tax on Jan. 1 while 10 others aren’t expected to do so until later in 2019.