Sales Tax numbers have banner month, up 24%

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Sales Tax numbers have banner month, up 24%

Sat, 05/16/2020 - 05:39
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The sales tax numbers are out and despite the COVID-19 issues the City of Guthrie saw $659,577 deposited into their general fund by the Oklahoma Tax Commission (OTC) last week. The revenues reported are from the March 16- 31 and estimated sales of April 1-15.

The OTC disbursed $ 146.2 million dollars this month, which is down almost $14.2 million from the same time last year when the revenues were reported at $160.3 million. The use tax disbursement across the state to the various municipalities was $22.5 million. The 77 counties received $25.2 million in sales tax and $4.9 million in use tax revenues.

Guthrie was up 24 percent in sales tax over last year’s numbers of $532,518 and was 29 percent up over last months tax revenues of $512,141. The city is now $347,108 over fiscal year 2019 with four months to go in the fiscal year. The city budget for sale tax in 2020 is $6.4 million.

The city also received $59,294 in sales use tax this month for the same time, which was a 7.5 percent increase over a year ago but slightly behind the April numbers when the city received $60,048.

The city is $101,278 ahead of budget projections for this revenue source. The city is also only $105,000 short on the budget dollars in this category with four months to go.

The Logan County tax revenues were not as good as they received only $233,354, which was 25 percent below last year’s numbers. The county was up 13 percent over last month when they received only $204,396. The county did receive $48,924 in sales use tax revenues this month which was up from the $33,826 received a year ago and up from the $46,212 received last month.

Across the county area, the sales tax revenues were down to last year’s numbers and in some cases significantly. Crescent was down 26-percent from last year’s revenues and 18-percent behind April’s revenues. Cashion was 28 percent down to last year’s numbers and were 70 percent down to last month’s numbers when they received $33,181.

The towns of Coyle and Langston were slightly up for the month over last year but significantly down from last month.

The other bad news for the outlying areas of the county they either do not collect sales use tax or what they did get won’t offset the sales tax losses.

The real test will be the next two months, as sales tax dollars for the time of all the business shutdowns will be reported. The local governments will then be challenged to make some tough decisions if they have not already done so.