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June sales tax up in Kingfisher; others display significant drops
Only Kingfisher in Kingfisher County showed an increase in its sales tax for June compared to June last year, according to the Oklahoma Tax Commission’s monthly report.
Because the local tax receipts reflect purchases by local oil drilling companies, the report likely indicates a fall off in drilling purchases as the STACK field nears maturity.
Collection date changes can also cause irregular collection amounts.
The June 2024 report 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 April 30 and estimated sales from May 1 to May 15.
The disbursement of $194,105,141 in sales tax collections returned to the cities and towns reflected an increase of $2,272,968 from the $191,832,173 distributed to them in June last year. The use tax disbursement to cities and towns was $34,340,577.
In county returns, the counties shared in $31,857,350 sales tax disbursementsand$ 6,596,996 in use tax disbursement.
Use tax receipts, which are collected at the same rate as entities’ sales tax levies on purchases made out of state for delivery within the state, appear following with June 2024 amounts listed first followed by the June 2023 totals: Kingfisher-$57,760.35 and $57,582.95.
Hennessey-$15,233.59 and $28,198.46 Cashion - $11,752.11 and $5,294.94 Dover - $4,164.50 and $2,783.53 Okarche - $12,855.66 and $27,038.35 Crescent - $10,281.74 and $9,034.44 Kingfisher Count y - $75,875.12 and $101,151.34 Watonga - $25,391.26 and $14,657.43 Blaine County $27,667.36 and$31,594.73 Canadian County - $198,532.79 and $176,934.80