Stillwater Chamber News

Oct 12, 2017

Stillwater sales tax collections are down 1.76 percent compared with October 2016

Link: http://stillwater.org/news/view/id/194 

 

Stillwater sales tax collections are down 1.76 percent compared with October 2016

Released:Oct 12, 2017

MEDIA RELEASE

(STILLWATER, OKLAHOMA / Oct. 12, 2017) – City of Stillwater Chief Financial Officer Melissa Reames said the City received its sales tax on August 2017 transactions that were remitted to the Oklahoma Tax Commission in September 2017 and apportioned to the City in October 2017. The amount totaled $2,720,977. This is a $48,757 (1.76 percent) decrease from October 2016, a $18,015 (0.18 percent) decrease year-to-date (YTD) and under budget by $126,441 (1.28 percent).
 
Use tax apportioned in October 2017 was $165,199. This is a $23,405 (16.51 percent) increase from October 2016, a $115,842 (23.19 percent) increase YTD and over budget by $236,544 (62.43 percent). The use tax overage compensates for the sales tax shortfall. Cigarette/tobacco tax apportioned in October 2017 totaled $31,531, which is $5,730 (22.21 percent) ahead of October 2016, a $4,252 (3.73 percent) increase YTD and over budget by $10,391 (9.63 percent).
 
Lodging tax remitted in September 2017 on August 2017 transactions totaled $77,282, which is $15,911 (25.93 percent) over September 2016, an increase of $33,050 (16.99 percent) YTD and over budget by $45,800 (25.20 percent).
 
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