Stillwater, Ok May, 9 (The Oklahoma Post) –
The City Of Stillwater announced in a press release, the latest updates of their Tax Apportionment. Apportionment is the determination of the percentage of profits subject to a given jurisdiction’s corporate income or other business taxes. U.S. cities and states apportion these public funds, based on some combination of the percentage of company property, payroll, and sales located within their governing borders.
See the entirety of the release below.
Available: Stillwater’s latest tax apportionment report
Released:Apr 29, 2022
MONTHLY UPDATE
Monthly Sales, Use and Hotel/Motel Tax Report: A monthly report on sales, use and hotel/motel tax collections, projections and comparisons is in our Document Center.
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April 2022 Tax Apportionment Report
Note: The collection is based off of February transactions that were reported to the Oklahoma Tax Commission in March and apportioned to the City in April.
TOTAL SALES AND USE TAX COLLECTION: $3,022,582
- PREVIOUS YEAR’S MARCH TOTAL SALES AND USE TAX COLLECTION: $2,529,631
- INCREASE FROM PREVIOUS YEAR: $492,951 (19.49%)
SALES TAX COLLECTION: $2,762,937
- PREVIOUS YEAR’S MARCH SALES TAX COLLECTION: $2,276,840
- INCREASE FROM PREVIOUS YEAR: $486,097 (21.35%)
- Note: One cent ($0.01) of collected sales tax is dedicated to the Stillwater Utilities Authority and a half-cent ($0.005) is dedicated to Transportation projects, as determined by a vote of Stillwater residents.
USE TAX COLLECTION: $259,645
- PREVIOUS YEAR’S MARCH USE TAX COLLECTION: $252,791
- INCREASE FROM PREVIOUS YEAR: $6,854 (2.71%)
HOTEL/MOTEL TAX COLLECTION: $52,676
- PREVIOUS YEAR’S MARCH HOTEL/MOTEL TAX COLLECTION: $35,853
- INCREASE FROM PREVIOUS YEAR: $16,823 (46.92%)?
For more information about the budget and taxes, visit the City’s Financial Center at stillwater.org/budget.
We also update a sales, use and hotel/motel tax report monthly at stillwater.org/document-center/detail/id/285.
End Press Release
View the original transcript on the Official City Of Stillwater Website
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