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Oklahoma City’s April sales and use tax summary
In the last report before the COVID-19 economic crash, the April sales and use tax summary shows combined General Fund collections in Oklahoma City were slightly 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 April report includes tax collections for the last half of February and estimated collections in the first half of March. April is the 10th month of fiscal year 2020.
The Finance Department estimates sales tax checks for the last two months of the fiscal year could be down about 25% compared to the same months last year because of the global economic crisis. General Fund revenue for fiscal year 2021, which begins July 1, are expected to decline by about $35 million.
Read the General Fund’s full April sales and use tax report here.
Sales tax summary
General Fund sales tax collections for April were about $19.7 million. That’s around $688,000 (3.4%) below the projection and $486,000 (2.4%) below the same month last year.
General Fund sales tax revenue is 0.5% (about $1.2 million) 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 $5.3 million for April. That’s around $700,000 (15.1%) above the projection and $879,000 (19.7%) above the same month last year.
General Fund use tax revenue is 2.7% (about $1.4 million) 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 MAPS 4, 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 $43.2 million in total sales and use tax revenue during the April reporting period, including collections for the General Fund, Police, Fire, the Zoo and Better Streets, Safer City (a temporary penny sales tax that expired March 31, replaced April 1 by the temporary penny sales tax funding MAPS 4).
Learn more about municipal taxes in Oklahoma City at okc.gov/tax.
Note: Oklahoma City businesses located in Cleveland, Canadian and Pottawatomie counties collect a slightly higher sales tax rate due to county sales tax.
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