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City January sales & use tax collections up 8.29 percent from last year

Feb 10, 2020

(STILLWATER, OKLAHOMA / Feb. 7, 2020) –

The City of Stillwater’s January sales and use tax collection totaled $2,822,615. The collection is based off November 2019 transactions that were reported to the Oklahoma Tax Commission in December 2019 and apportioned to the City in January 2020.

This is an increase from January 2019 total collections by $216,138 (8.29 percent) and collections exceeded budget projections for January 2020 by $292,488 (11.56 percent).

The City of Stillwater’s sales tax collections in January 2020 was $2,541,297, which is up $155,679 (6.53 percent) from January 2019 and exceeded budget projections for January 2020 by $164,821 (6.94 percent).

The City of Stillwater’s use tax collections in January 2020 was $281,318, which is up $60,459 (27.37 percent) from January 2019 and exceeded budget projections for January 2020 by $127,667 (83.09 percent).

As of July 2019, the City no longer collects lodging tax payments directly. Lodging tax is collected by the Oklahoma Tax Commission, who began remitting payments to the City in September 2019 for taxes collected in July 2019, resulting in a difference in timing of tax revenue receipts.

Hotel/motel tax remitted to the City in January 2020 totaled $77,277, which is up from January 2019 collections by $27,407 (54.96 percent), and exceeded budget projections by $25,650 (0.49.68 percent).

For more information about the budget and taxes, visit the City’s Financial Center at http://stillwater.org/budget.

We also update a sales, use and hotel/motel tax report monthly at http://stillwater.org/document-center/detail/id/285.

 

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