With two months left in the fiscal year, the City of Guthrie continues to see steady sales tax dollars rolling in.
Although the current sales tax dollar amounts continue to be below par compared to last year’s banner year, the City collected over $570,000 for July.
The July revenue ($570,878.17) was down $49,032.87 or 7.91% as compared to July 2018.
For the ten months of the current fiscal year (October-July) the cumulative sales tax revenue is down $427,730.36 or 7.57% as compared to the same first ten months of the prior year.
However, the use tax collections continue to exceed last year’s totals.
The July 2019 use tax revenue ($50,425.19) was up $18,362.22 or 57.27% as compared to Use Tax Revenue in July 2018.
For the ten months of the fiscal year (October-July) the cumulative use tax revenue is up $173,189.84 or a whopping 51.36% as compared to the same first ten months of last 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.