Smiley, TX, continues to top the charts in monthly increases in state sales tax revenues. The community of just 500 in Gonzales County saw its July tax revenues jump over 250% from the previous year.
Texas comptroller Susan Combs said sales tax revenue for the state in July was $2.05 billion, up 10.1 percent compared to July 2011.
“Business spending in the oil and natural gas industry and other sectors continues to be robust,” Combs said. “That spending, along with increases in consumer sectors such as retail trade, continues to boost sales tax collections. State sales tax revenue has now increased for 28 consecutive months.” [Read more…]