Loyal has only sales tax gain for November
Only Loyal, among Kingfisher County towns, showed an increase in its sales tax check for November compared to November 2023.
The Oklahoma Tax Commission, which collects sales tax for municipalities and counties along with the state sales tax, then disburses it monthly, reported the Nov. 8, 2024 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 Sept. 16 to Sept. 30 and estimated sales from Oct. 1 to Oct. 15.
It also includes the statutory sales tax holiday reimbursements to cities and counties. The disbursement of $190,962,535 in sales tax collections returned to the cities and towns reflected a decrease of $8,649,727 from the $199,342,262 distributed to them in November last year. The use tax disbursement to cities and towns was $36,386,286.
In county returns, the counties shared in a $32,054,453 sales tax disbursementanda$ 6,786,890 use tax disbursements.
While cities’, towns’ and counties’ sales tax totals were generally lower, use tax receipts were up for both Cashion and Kingfisher, probably due to increased oil well drilling activity in those areas.
Use tax is collected on purchases made out of county for delivery within the county and includes purchases made by oil companies drilling within the geographic area of local towns.
Such sales tax payments can sharply affect tax reports as opposed to normal commercial business.
The accompanying chart shows sales tax reports and percentage of change, positive and negative, for local government entities.
Following are use tax reports for county municipalities, except Loyal which does not levy the tax, with the November 2024 amount listed first and the November 2023 amount listed second:
Cashion – $12,853.40 and $8,630.11.
Dover – $2,826.21 and $3,372.38.
Hennessey – $14,821.14 and $19,724.95.
Kingfisher – $170,312.77 and $46,561.85.
Okarche – $8,582.47 and $17,278.56.