• Square-facebook

All county municipalities see tax drop

Time to read
less than
1 minute
Read so far

All county municipalities see tax drop

By
All county municipalities see tax drop

June sales tax checks were lower for all Kingfisher County towns.

The smaller checks, due in part to reduced retail activities thanks to the coronavirus shutdown, also reflect decreased drilling activity in the STACK oil shale formation.

The June distribution of sales tax collections by the Oklahoma Tax Commission primarily represents local tax receipts from April business. Companies that remit more than $2,500 monthly in sales tax receipts are required to file and pay electronically. The monies they reported this period represent sales from April 16 to 30 and estimated sales from May 1 to May 15.

The disbursement of $142,331,436 in sales tax collections returned to the cities and towns reflected a decrease of $15,847,250 from the $158,178,686 distributed to the cities and towns in June last year. The use tax disbursement to cities and towns was $22,102,001.

In county returns, the counties shared in a $24,465,339 sales tax disbursement and a $4,398,923 use tax disbursement.

Use tax checks were higher for most area towns. Use taxes, which are the same as entities’ sales tax rates, are collected on purchases made outside an entity’s residence for taxable items that will be used, stored or consumed in that community and on which no tax was collected in the state of purchase. Oil field materials fall into that category.

Comparison of use tax checks this June and last follow with the 2020 amount listed first:

Cashion – $8,748.60 and $4,382.87.

Crescent – $5,853.06 and $4,431.71.

Dover – $2,561.04 and $2,780.63.

Hennessey – $14,825.96 and $12,933.75.

Kingfisher – $61,016.74 and $55,749.11.

Okarche – $19,252.20 and $15,847.88.

Kingfisher County – $111,174.92 and $168,173.98