The Norman Transcript

Business

April 13, 2014

Norman use tax takes a hit while Moore sales tax flounders

NORMAN — Norman use tax took a hit this month while Moore’s sales tax floundered for the first time since sales picked up in the post-tornado recovery period.

For the city of Norman, however, sales tax collections are a bright spot on the revenue horizon this month.

Norman sales tax is up 6.79 percent this month compared to 2013 figures. Norman received $5,230,836 from the Oklahoma Tax Commission on April 9. Sales tax is up 5 percent for the year, running above budgets of 4.25 percent.

Public Safety Sales tax receipts were $285,122 this month. However, there was an anomaly this month in use tax collections.

“Use tax was a zero because a large use taxpayer got a refund for overpayment for the last three years,” Norman Finance Director Anthony Francisco said. “It happens often. Obviously, this was a big one.”

Francisco said settlements are made in a lump sum and can go back three years. In this case, a business was inadvertently paying use tax and sales tax on the same products.

“They legitimately got a big settlement of past overpayment,” Francisco said.

Cleveland County sales tax was $636,462 this month, running well above last year’s receipts of $592,625. County use tax was $15,771, down from $30,013. County use tax would be affected by the same large company refund that affected Norman.

Moore also experienced an anomaly this month. Moore’s sales tax receipts this month were $2,064,259 running below $2,088,401 for last year.

“We saw a decrease of about 7.74 percent,” City Manager Steve Eddy said. “There was an audit by the tax commission of a large taxpayer, and that audit resulted in an overpayment of about $290,000 over a period of time and that amount was deducted from our sales tax remittance for this month. If it weren’t for that, we would have shown an increase of about 5 percent.”

Moore use tax was up at $67,639, compared to use tax collections of $55,385 last April.

Joy Hampton

366-3544

jhampton@

normantranscript.com

Breaking news, severe weather alerts, AMBER alerts, sports scores from The Norman Transcript are available as text messages right to your phone or mobile device. You decide which type of alerts you want to receive. Find out more or to signup, click here.

1
Text Only | Photo Reprints
Business
  • Candy Basket celebrates 25 years

    Perhaps it’s the chocolate covered blueberries whose deliciousness still lingers. Or maybe it’s the blood orange and wild honey white chocolate ganache that won’t soon be forgotten by your taste buds. At The Candy Basket there is decadence ...

    July 20, 2014

  • Bramlett & Associates adopts new name reflective of business

    Bramlett & Associates Multimedia LLC (Bramlett Multimedia), 215 W. Main St., announced this month that the company will change its name after 12 years in business and will do business as BOLD-Multimedia. The announcement, made first to ...

    July 20, 2014

  • Toothpick holders convention coming to Norman

    Lynne Ryan has been collecting toothpick holders her entire life. “My parents, Mr. and Mrs. W.L. ‘Bud’ Gibbs started our collection in 1936,” Ryan said. Ryan was born in 1940, and she grew up crawling around toothpick holders, as have ...

    July 20, 2014

  • Protect your online banking, shopping with encryption

    In my free, one-night class called “Fight the Internet Bad Guys and Win,” I teach everyday computer users how to stay out of trouble on the Internet. How to avoid virus infections, how to discern between the genuine and counterfeit, and ...

    July 20, 2014

  • Tourism in Okla. creates $17.2 M in economic benefit

    A new National Park Service report shows that the 1,108,103 visitors to Oklahoma’s national parks in 2013 spent $17.2 million and supported 176 jobs in the state. Oklahoma’s three national parks include: Washita Battlefield National ...

    July 20, 2014

  • Norman United Wayboard gets to work

    The United Way of Norman Board of Directors for 2014-15 has met for the first time. Leading the group as chair was Steve McDaniel of Oklahoma State Bank....

    July 20, 2014

  • Family tragedy opened one woman’s eyes to the need of the disabled

    Jean Bayles had a dream. The dream was to provide a fully accessible home for rent in Norman. Her brother, Terry Abbott, was injured when he was 15 and has been a quadriplegic since....

    July 13, 2014

  • HeyDay brings Boomerang back to Norman

    Boomerang Grille was a family-oriented, iconic restaurant for many Norman residents for many years. Few are the people who have not slid into those vinyl seated booths, picked up the red phone and ordered a Theta burger and onion rings or ...

    July 13, 2014

  • Residents serve Leadership board

    Four Norman residents are serving on the board of Leadership Oklahoma....

    July 6, 2014

  • Bellhops offer moving help to Norman

    Founders Cameron Doody and Stephen Vlahos launched Bellhops at Auburn University in 2011. “Our first year, we set a goal of 25 moves, and after three days we had moved 230 students during the college move in season.” Doody said. “That’s ...

    July 6, 2014