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Sales tax checks bigger for 3 area towns
Kingfisher, Hennessey and Cashion, along with Kingfisher County, had substantial increases in January sales tax, according to the Oklahoma Tax Commission.
The January 2022 distribution of sales tax collections by the Oklahoma Tax Commission primarily represents local tax receipts from November 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 Nov. 16-30 and estimated sales from Dec. 1-15.
The disbursement of $193,129,239 in sales tax collections returned to the cities and towns reflected an increase of $28,947,950 from the $164,181,289 distributed to the cities and towns in December last year. The use tax disbursement to cities and towns was $36,827,822.
In county returns, the counties shared in a $31,839,923 sales tax disbursement and a $6,671,148 use tax disbursement.
Comparisons for several selected area towns appear in the accompanying chart.
Use tax comparisons for this January and last received by local municipalities and Kingfisher County follow with the January 2022 amount listed first:
Kingfisher – $141,619.27 and $64, 563.42.
Hennessey – $20,111.05 and $17,177.49.
Cashion – $12,371.12 and $9,479.90.
Dover – $3,903.88 and $2,456.58.
Okarche – $18,537.03 and $10,168.53.
Crescent – $9,430.55 and $6,769.14.
Kingfisher County – $115,844.49 and $70,617.90.
Use tax is levied on products purchased out of state for delivery within the entity at the same rate as entities’ sales tax. Loyal does not levy use tax.
Much of the local use tax can be attributed to oil industry purchases necessary for well development.