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Strong sales tax revenue heading into holiday shopping

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Strong sales tax revenue heading into holiday shopping

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Kingfisher, Hennessey, Dover, Loyal and Okarche all had increases in their sales tax checks, according to the Oklahoma Tax Commission.

Loyal had the largest percentage increase, 252.4%.

Kingfisher County also received a substantial increase, 55.3%, a reflection of increased oil field activity.

The November 2022 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 - 30 and estimated sales from Oct. 1 - 15.

The disbursement of $193,017,494 in sales tax collections returned to the cities and towns reflected an increase of $12,961,918 from the $180,055,576 distributed to the cities and towns in November last year. The use tax disbursement to cities and towns was $30,846,416.

In county returns, the counties shared in a $33,440,085 sales tax disbursement and a $5,836,501 use tax disbursement.

The tax commission reported that Greenfield would begin assessing a 3 % use tax effective Jan. 1.

Use tax for local entities for November compared to November last year with the 2022 number listed first:

Cashion – $11,183.68 and $8,583.48.

Crescent – $8,748.62 and $7,359.73.

Dover – $3,205.13 and $2,307.49.

Hennessey – $22,500.00 and $15,303.92.

Kingfisher – $87,835.18 and $69,538.70.

Okarche – $14,976.59 and $19,479.51.

Kingfisher County – $210,910.65 and $125,425.14.

Loyal does not collect a use tax. Use taxes are levied at the same rate as entities’ sales tax on purchases made out of state for delivery within the entity.