Texas among states with most 'sin tax' revenue

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Most of Texas? sin tax revenue came from tobacco products ? nearly $1.47 billion in 2012, down 8.4 percent from 2011.

Texas may boast a business-friendly tax climate and no personal income tax, but it rakes in more revenue from ?sin taxes? than any other state, according to data from Bloomberg.

Bloomberg?s recent report ?The Dirty Dozen: 12 States That Bet Big on Sin? analyzed tax revenue from tobacco, alcohol and pari-mutuels (or betting, usually on horse racing, dog racing and jai-alai) provided by the State Government Tax Collections survey of the U.S. Census Bureau.

Texas received more than $2.4 billion in 2012 tax revenue from those sources. That?s up from $2.38 billion in 2011 and the most of any state. However, when ranked by percentage of revenue, Texas is No. 4, with 4.97 percent of revenue coming from sin taxes.

Most of Texas? sin tax revenue came from tobacco products ? nearly $1.47 billion in 2012, down 8.4 percent from 2011. Another $937.6 million came from alcohol, an increase of 42 percent from last year.

If this legislative session is any indication, those numbers won't be decreasing drastically in the future. Lawmakers passed a package of bills to help create a more robust marketplace for craft beer brewers and liquor distillers. Bills proposing that almost all workplaces be smoke-free failed for the fourth time ? but most major Texas cities have banned it already.

Click here to see how the rest of the ?Dirty Dozen? compare, and click here to see the data for all 50 states.

Olivia Pulsinelli is the web producer for the Houston Business Journal's award-winning website.

Source: http://feedproxy.google.com/~r/vertical_32/~3/kIxmtnCSJpc/texas-among-states-with-most-sin-tax.html

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