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Oklahoma City’s February sales and use tax summary
The February sales and use tax report shows General Fund collections in Oklahoma City were above the monthly projection and increased compared to the same month last year.
The General Fund pays for the City’s day-to-day operations. Sales tax is the General Fund’s largest single source of revenue, and use tax is the second-largest.
The February report includes tax collections for the last half of December and estimated collections in the first half of January. February is the eighth month of fiscal year 2020.
Read the General Fund’s full February sales and use tax report here.
Sales tax summary
General Fund sales tax collections for February were about $23 million. That’s around $469,000 (2.1%) above the projection and $955,000 (4.3%) above the same month last year.
General Fund sales tax revenue is 0.2% (about $360,000) below the fiscal year-to-date projection.
Use tax summary
General Fund use tax collections, which typically fluctuate more than sales tax collections, were about $7.4 million. That’s around $1.2 million (18.9%) above the projection and $1.5 million (24.8%) above the same month last year.
General Fund use tax revenue is 1.5% (about $644,000) above the fiscal year-to-date projection.
About sales and use tax
Sales tax comes from retail sales in Oklahoma City. Use tax is charged at the same rate and comes from goods purchased elsewhere and shipped or brought to Oklahoma City, like online sales or equipment not available from Oklahoma suppliers.
The overall sales tax rate in most of Oklahoma City is 8.625%, and 4.125 cents of each dollar in taxable sales goes to the City. Of that, 2 ¼ cents is allocated to the City’s General Fund, one cent goes to Better Streets, Safer City sales tax projects, three-fourths of a cent is dedicated to Police and Fire, and one-eighth of a cent goes to the Zoo. The rest of the sales tax belongs to the state.
The City collected around $51.9 million in total sales and use tax revenue during the January reporting period, including collections for the General Fund, Police, Fire, the Zoo and Better Streets, Safer City.
Learn more about municipal taxes in Oklahoma City at okc.gov/tax.
Note: Oklahoma City businesses located in Cleveland and Canadian Counties collect a slightly higher sales tax rate due to county sales tax.
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