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KPRC 2 Investigates: Internet customers wrongly charged for years, now getting refund
Read full article: KPRC 2 Investigates: Internet customers wrongly charged for years, now getting refundWith rising inflation and interest rates, consumers are looking to save wherever possible. What some fail to realize is they have been paying extra for internet access. KPRC 2 Investigates discovered customers wrongly paying a certain sales tax for years and now, those customers will be getting a refund. What we uncovered will have you checking your bills a little closer.
FULL LIST: Save on these products on these Texas Sales Tax Holidays aimed at reducing water, energy use
Read full article: FULL LIST: Save on these products on these Texas Sales Tax Holidays aimed at reducing water, energy useTexans and Texas businesses can save on certain water- and energy-efficient products from May 28-30 for the sales tax holidays.
Texas sales tax revenue declined 6.5% vs last June as state reopened for business
Read full article: Texas sales tax revenue declined 6.5% vs last June as state reopened for businessCallie Richmond for The Texas TribuneTexas collected $2.67 billion in state sales tax revenue in June a 6.5% drop compared to what the state brought in the same month last year, Comptroller Glenn Hegar said Wednesday. Junes sales tax revenue, which mainly reflects purchases made in May, suggests that the states phased reopening and relaxing of social distancing measures over the past month led to some increases in economic activity. Still, Hegar said, sales tax revenue totaled over April, May and June was down 9.7% compared to the same period a year ago. While collections from restaurants were depressed, Hegar said that take-out and delivery sales, along with online purchases, helped buoy revenue in the restaurant and retail sectors. Later this month, Hegar is expected to announce his revised revenue estimate for the current state budget, which ends in August 2021.
Texas sales tax revenue dips 13.2% in May, the largest year-over-year decline in a decade
Read full article: Texas sales tax revenue dips 13.2% in May, the largest year-over-year decline in a decadeTexas collected about $2.6 billion in state sales tax revenue in May, leading to the steepest year-over-year decline in over a decade, Comptroller Glenn Hegar announced Monday. "Significant declines in sales tax receipts were evident in all major economic sectors, with the exception of telecommunications services," Hegar said in a news release. Monday's announcement is the latest reminder of the economic devastation facing the state and how recovering from it could last months if not years even as businesses begin reopening their operations, which feed into the sales tax revenue. Last month, for example, Hegar announced that the sales tax revenue collections for purchases in March dropped roughly 9% which at the time was the steepest decline since January 2010. Some Republicans have pushed for double-digit budget reductions, arguing the economic fallout merits such an action.
Tough decision for some small business owners in Texas: Pay sales tax or pay employees?
Read full article: Tough decision for some small business owners in Texas: Pay sales tax or pay employees?HOUSTON – In Texas, sales tax collected by businesses is due to the state every month on the 20th. Houston Jewelry has been in the area for generations, surviving hurricanes, recessions and other crisis. In disasters like Hurricane Harvey, the state has delayed sales tax payments for business owners like them as part of a disaster declaration. “We’re actually quite surprised that the comptroller, that this was not anticipated in the disaster declaration,” Houston Jewelry owner Rex Solomon said. Solomon will forgo his pay on Friday in order to pay the state more than $10,000 in sales tax and the employees.