City collects record high in sales tax collections

The City of Guthrie collected a record high in sales tax dollars this month with the latest data from the Oklahoma Tax Commission.

The City collected $660,209.09 for the July sales tax, which generally represents two months previous. In this scenario, the tax dollars would reflect for the month of May.

The July dollar amount is a 16% increase, or $89,330.92, from the same time frame a year ago.

Now with three months of sales tax data during the pandemic (May – July), the City has seen increased dollars (nearly $166,000) over the same period from last year.

With the updated numbers and two months remaining in the fiscal year, the City is 7% higher accumulatively as compared to 2019, or $385,982.56.

Through the first 10 months of the 2019-20 fiscal year (October 2019 to July 2020), the City has generated $5,608,063 which is 6% over, or $293,421, more than the year to date projection of $5,314,642.

City officials continue to remind citizens to continue to follow CDC recommendations so the local economy can continue and remain strong.

The City’s Use Tax saw its second largest percentage increase during the fiscal year with a collection of $72,586.52, which is an increase of 44% compared to July 2019.

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

The Use Tax is 28% higher accumulatively as compared to 2019, or $141,925.69. The year to date collected is $652,299, which is 28% over or $142,299 more than the year to date projection of $510,000.