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5 towns see bigger October sales tax checks
Five county towns enjoyed larger sales tax checks in October than they did in October 2020, according to the Oklahoma Tax Commission’s monthly report.
Cashion had the biggest gain percentage wise, 84%, but Kingfisher, Hennessey, Dover, and Okarche also experienced satisfying increases.
Kingfisher’s October check of $349,222.22 was 19.6 % larger than last October’s check although it was derived from a 3% tax rate as compared to last year’s rate of 3.335%.
The October 2021 distribution of sales tax collections by the Oklahoma Tax Commission primarily represents local tax receipts from August 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 August 16- 31 and estimated sales from September 1-15.
The disbursement of $184,039,891 in sales tax collections returned to the cities and towns reflected an increase of $23,526,342 from the $160,513,549 distributed to the cities and towns in October last year. The use tax disbursement to cities and towns was $28,487,270.
Kingfisher County’s check from a 1.25% tax was 36.8% higher than last October’s.
In statewide county returns, the counties shared in a $30,094,576 sales tax disbursement and a $5,195,681 use tax disbursement.