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AUSTIN—The Texas comptroller’s office recently released an update to A Field Guide to the Taxes of Texas (PDF), a periodic report providing an overview of Texas’ major state taxes. Every year, the state collects billions in state taxes and fees, federal receipts, and other sources of revenue. These funds are used to pay for all of the responsibilities of state government, including the education of more than 5 million public school students and the provision of health insurance for more than 4 million low-income Texans. In A Field Guide to the Taxes of Texas, readers can learn how major taxes have contributed to state revenue during the past 10 years; see future revenue estimates, exemption value estimates, and tax allocations; and connect to other in-depth resources about state taxes and finances. “This guide highlights and compiles useful information from a variety of comptroller reports in one easily accessed spot, with a graphic-rich overview of major state and local taxes, including historical collections and estimates of future growth,” Texas Comptroller Glenn Hegar said. “As legislators address crucial issues during this legislative session, this guide will provide lawmakers, business and community leaders, and the general public with an easy-to-understand reference explaining Texas’ major taxes and associated revenues.” To find additional reports that highlight state spending and revenue, go to the comptroller’s website.
