City’s sales tax dollars still not holding up against banner year

City’s sales tax dollars still not holding up against banner year

For the eighth straight month, the sales tax collections were down for the City of Guthrie. However, those numbers are compared to the best numbers the City has ever seen.

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The City collected $536,297.36 in sales tax revenue for the second largest amount since January. Compared to the same time period last year, the tax was down 3.53% or $19,642.86.

With three months remaining in the City’s fiscal year of 2018-19 (October to September), the overall dollars are down 7.53% or $378,697.49.

City officials report they are 9.27% below their projection for the fiscal year.

The overall sales tax remains $117,387 ahead of the same nine month period from fiscal year 2017-18.

Use Tax revenue continues to spike

The use tax collected $47,993.47 in June and have collected 50.74% more accumulatively as compared to 2018 or $154,827.62

The June 2019 Use Tax revenue was up $15,206.02 (46.38%) compared to June 2018.

The use tax overall projection is 52.21% above what City leaders had projected for the year.

The use tax dollars are collected from online shopping, including Amazon.com and by third-party vendors selling through Amazon, which began July 1, 2018.

Use tax is sales tax levied on products purchased elsewhere and shipped into Oklahoma. Use tax also is due on major purchases, such as when a farmer orders a tractor from a national dealer in another state and has it shipped into Oklahoma.

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