Oklahoma City's March Sales And Use Tax Summary

Press release from the City of Oklahoma City:

March 30, 2021

In a possible sign of tentative economic recovery and resilience, Oklahoma City’s March sales and use tax report shows combined General Fund collections were above this month last year and above the monthly projection.

This year’s March report compares favorably with the last pre-pandemic monthly report from 2020.

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 March report includes tax collections for the last half of January and estimated collections in the first half of February. March is the ninth month of fiscal year 2021.

Read the General Fund’s full March sales and use tax report here.

Sales tax summary

General Fund sales tax collections for March were about $20.5 million. That’s around $1.3 million (6.6%) above the projection and $870,000 (4.4%) above the same month last year.

General Fund sales tax revenue is about 4.9% (about $8.8 million) above the fiscal year-to-date projection and 3.3% (about $6.5 million) below this point last year.

Use tax summary

General Fund use tax collections, which typically fluctuate more than sales tax collections, were about $4.7 million for March. That’s around $1.8 million (38%) above the projection and $1.7 million (36.5%) above the same month last year.

General Fund use tax revenue is about 16.2% (about $7.8 million) above the fiscal year-to-date projection and 14.9% (about $7.3 million) above this point last year.

This press release was produced by the City of Oklahoma City. The views expressed here are the author’s own.