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City Sees Big Gains in Sales, Use Tax Revenue

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City Sees Big Gains in Sales, Use Tax Revenue

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Sales and use tax revenue was up significantly for the City of Seminole in March, the Oklahoma Tax Commission (OTC) reported this week.

According to the OTC, the city received a sales tax distribution this month in the amount of $606,136.41, a 30 percent increase over May 2020 when the amount was $466,030.85. The city’s use tax disbursement, which largely represents online purchases, totaled $67,447.28, up 52 percent over last May’s amount of $44,393.77. This month’s distribution was based primarily on March tax receipts.

March sales tax revenue rebounded from February, when it was down by three percent as compared to the previous year. Although sales tax receipts were down, use tax revenue remained strong in March, increasing by 15 percent.

The Seminole County tax coffers also saw healthy increases this month. According to the OTC, the county’s sales tax distribution was up 23 percent over May 2020 and use tax revenue grew by 43 percent. The county received $297,971.23 in local sales tax revenue and $49,927.25 in use taxes. One year ago, the amounts were $242,060.67 and $34,923.51, respectively.

Collections around the county

Bowlegs: $2,961.52 (+24%)

Cromwell: $5,438.21 (+152%)

Konawa Sales Tax: $36,518.01 (+7%) Use Tax: $10,460.88 (-31%)

Maud Sales Tax: $15,152.17 (-2%) Use Tax: $7,433.04 (+171%)

Sasakwa: $1,927.88 (+55%)

Wewoka: $81,678.24 (+18%) Use tax: $22,697.09 (+135%)

The May distribution of sales tax collections by the OTC 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 16 - 31 and estimated sales from April 1 - 15.