February 2022 Sales Receipts Up In Allen

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February 2022 Sales Receipts Up In Allen

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The February 2022 distribution of sales tax collections by the Oklahoma Tax Commission primarily represents local tax receipts from December 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 December st 16 th to 31 and estimated sales from January 1 st to the 15 th .

The disbursement of $196,775,118 in sales tax collections returned to the cities and towns reflected an increase of $30,582,365 from the $166,192,753 distributed to the cities and towns in February last year. The use tax disbursement to cities and towns was $38,530,409.

In county returns, the counties shared in a $32,413,565 sales tax disbursement and a $7,214,750 use tax disbursement.

What is Sales Tax? Under Oklahoma law, sales tax must be charged and collected on all transfers of title or possession of tangible personal property that occur within the state. Sales tax is also levied on certain services that are provided in the state. If the transaction occurs within the boundaries of a county or municipality that also levies a sales tax, those taxes will be applied as well. Oklahoma sales tax is levied at 4.5% of the gross receipts from the sale or rental of tangible personal property and from the furnishing of specific services.

Use Tax must be paid on tangible personal property purchased and brought into this state for storage, use or consumption. If the property is brought into a county or municipality that also levies a use tax, the applicable county or municipal use tax must also be paid. Retailers maintaining a place of business within the state and/ or making sales from a place of business outside the state for use in Oklahoma are required to collect from the customer the appropriate state and local use tax.

During the reporting time, Allen posted an increase of $2,096.66 in Sales Tax over the same period last year. Revenue in 2022 totaled $17,089.01 in 2022 compared to $14,992.35 in 2021.

Ada also increased, receiving $1,660,822.72 this year compared to $1,453,487.04 last year. Gains were also posted by Atwood, Francis and Holdenville while

Calvin and Gerty took a hit.

Atwood was up to $562.19 from $361.09; Francis increased $1,394.78 from $1,181.95; and Holdenville was up over $40,000 receiving $288,235.30 compared to $247.848.96 in 2021.

Calvin dropped to $10,610.50 from $11,754.27; and Gerty lost $4.31, going to $146.28 from $150.59.

The two counties, Hughes and Pontotoc, both logged healthy gains. Hughes County received $154,606.30 compared to $103,651.53; and Pontotoc was up to $485,198.86 from $401,690.62.

On the Use Tax side of things Allen was down slightly, receiving $5,194.07 compared to $5,575.13 last year. Ada was up to $232,379.97 from $214,632.57; Calvin had a large gain, up to $4,573.65 from $2,424.11; but Holdenville took a small hit, receiving $37,796.77 in 2022 compared to $37,822.39 in 2021.

Increases were reported for both counties. In Hughes revenues were up to $22,935.31 from $19,190.34, and in Pontotoc receipts in 2022 were $94,849.16 over the $89,920.16 received last year.