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May sales tax increases for two county communities
May sales tax checks were higher for Hennessey and Loyal, almost the same for Dover and down for the county’s other three municipalities.
A slowdown in drilling activity could account for some fall off in sales tax collections locally compared to May 2023.
The May distribution of sales tax collections by the Oklahoma Tax Commission primarily represents local tax receipts from March 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 March 15 to 31 and estimated sales from April 1 to 15.
The disbursement of $202,103,173 in sales tax collections returned to the cities and towns reflected an decrease of $1,447,452 from the $203,550,624 distributed to them in May last year. The use tax disbursement to cities and towns was $37,264,015.
Use tax is levied on purchases made out of state for use within the state.
In county returns, the counties shared in $33,337,125 sales tax disbursements and $7,723,195 in use tax disbursements.
Use tax comparisons for local municipalities, except Loyal, which does not levy a use tax, follow with the May 2024 amount listed first:
Cashion – $10,708.17 and $9,938.70.
Dover – $3,085.83 and $9,038.52.
Hennessey – $16,780.45 and $21,325.41.
Kingfisher – $61,146.44 and $125,998.64
Okarche – $36,614.41 and $51,158.07.
Crescent – $10,106.49 and $10,548.09.
Kingfisher County – $67,860.30 and $129,156.57.
(Note: Use tax is collected at the same rate as an entity’s sales tax rate.)