| Texas Revenues by Source, FY2004 |
| Source |
Amount |
Percent of Total |
Percent of Total (Federal Income Omitted) |
Percent Change from 2003 |
| Tax Income |
| Sales tax |
$15,417,156,258 |
24.8 |
38.4 |
8.0 |
| Vehicle sales/rental, mfg housing sales |
2,740,287,958 |
4.4 |
6.8 |
1.7 |
| Motor fuels taxes |
2,917,706,870 |
4.7 |
7.3 |
2.8 |
| Franchise tax |
1,835,013,952 |
3.0 |
4.6 |
6.9 |
| Insurance occupation taxes |
1,184,922,211 |
1.9 |
3.0 |
1.4 |
| Natural gas production tax |
1,392,436,142 |
2.2 |
3.5 |
30.2 |
| Cigarette and tobacco taxes |
534,577,125 |
0.9 |
1.3 |
-8.3 |
| Alcoholic beverages taxes |
601,839,505 |
1.0 |
1.5 |
6.0 |
| Oil production tax |
496,111,400 |
0.8 |
1.2 |
17.1 |
| Inheritance tax |
151,131,249 |
0.2 |
0.4 |
-19.1 |
| Utility taxes |
356,245,152 |
0.6 |
0.9 |
8.3 |
| Hotel and motel tax |
238,861,664 |
0.4 |
0.6 |
4.8 |
| Other taxes |
46,712,161 |
0.1 |
0.1 |
6.4 |
| Total Taxes |
27,913,001,645 |
45.0 |
69.5 |
6.8 |
| |
|
|
|
|
| Other Major Income Sources |
| Federal Income |
21,937,677,532 |
35.3 |
XXX |
4.6 |
| Licenses, fees, permits, fines & penalties |
5,545,631,112 |
8.9 |
13.8 |
15.9 |
| Interest and investment Income |
1,406,009,264 |
2.3 |
3.5 |
-10.7 |
| Net Lottery Proceeds |
1,596,764,098 |
2.6 |
4.0 |
13.6 |
| Sales of Goods and Services |
329,233,909 |
0.5 |
0.8 |
-5.1 |
| Settlements of Claims |
510,061,810 |
0.8 |
1.3 |
-8.0 |
| Land Income |
498,182,215 |
0.8 |
1.2 |
27.8 |
| Contributions to Employee Benefits |
178,178,251 |
0.3 |
0.4 |
11.3 |
| Other Revenue Sources |
2,158,332,805 |
3.5 |
5.4 |
8.4 |
| Total Other Sources |
34,160,070,997 |
55.0 |
30.5 |
6.1 |
| |
|
|
|
|
| Total Net Revenue |
$62,073,072,643 |
100.0 |
100.0 |
6.5 |
|
 |
|
More than one-third of the $62 billion in state revenues in
Texas in fiscal 2004 came from federal payments for programs
administered by the state such as Medicaid, No Child Left Behind, and
Temporary Aid to Needy Families. Another quarter was generated by the
state sales tax. Excluding federal funds, of the $40 billion from Texas
sources, the sales tax accounted for nearly forty percent. Taxes on
sales of motor vehicles and fuel compose an additonal fourteen percent
of in-state revenue and revenue from licenses, fees, permits, fines, and
penalties has grown to nearly fourteen percent as well.
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