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Kingfisher sees first sales tax increase in some time
Kingfisher saw a 2.1 % increase in its sales tax collections for December, according to the Oklahoma Tax Commission.
It was the first increase compared to the same month a year earlier in several months.
The lower checks are likely due to a drop-off in oilfield activity in the county.
December sales tax checks were lower for all other county towns, as well as Kingfisher County.
The December distribution of sales tax collections by the Oklahoma Tax Commission primarily represents local tax receipts from September 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 Oct. 16 to 31 and estimated sales from Nov. 1 to Nov. 15.
The disbursement of $154,648,811 in sales tax collections returned to the cities and towns reflected a decrease of $4,830,778 from the $159,479,589 distributed to the cities and towns in December last year.
The use tax disbursement to cities and towns was $26,747,038.
In county returns, the counties shared in a $25,051,185 sales tax disbursement and a $4,960,128 use tax disbursement.
Use tax is collected at the same rate as an entity’s sales tax on purchases made out of state for delivery within the entity.
Use tax checks delivered by the Oklahoma Tax Commission to area towns and the Kingfisher County treasurer follow with the 2020 amount listed first and the 2019 amount second:
Cashion - 8,478.11 and 5,942.47.
Crescent- $8,315.32 and $4,979.98.
Dover - $16,817.62 and $3,896.77.
Hennessey - $14,233.41 and 12,514.97.
Kingfisher - $87,412.12 and $100,351.38.
Okarche - $9,875.49 and $14,337.19
Watonga - $17,448.98 and $33,316.95.
Kingfisher County -$98,867.80 and $200,730.16
The Oklahoma Tax Commission reported that the City of Kingfisher’s tax rate will drop to 3 % effective Jan. 1 (down from 3.335 % .)