The Norman Transcript

Headlines

November 16, 2012

Other revenue sources offsetting Norman’s low sales tax collections

(Continued)

NORMAN —

“Year to date, we’re 6.27 percent up,” Corbett. “We’re a little bit ahead of our projections.”

Corbett had budgeted for a 4 percent increase over last year.

Use tax for Moore is also up.

“At the pace we’re going, we will exceed last year’s receipts by about a 10 percent growth if we continue as we have,” Corbett said.

Cleveland County sales tax collections on Nov. 8 were $583,431, which is a slight increase over last year’s collections for the same time period. Use tax collections were $23,975, which is down 3.2 percent from last year’s use tax collections for the same time period, according to Oklahoma Tax Commission deposit letter reports.

Other cities in Cleveland County include Noble, receiving $129,719 in sales tax, Lexington $28,067 and Slaughterville $9,733. Noble and Lexington were up from last year, while Slaughterville was down slightly.

Treasurer Miller reported strong October revenues, as measured by the monthly gross receipts, which increased 9 percent over last year. Miller reported that this increase was the highest percentage in eight months.

Oklahoma’s October revenue increase “was driven primarily by personal income tax collections, up by more than 20 percent, and better gross production numbers, which earlier this year had fallen as much as 54 percent below prior year collections,” according to the press release.

“Oklahoma’s economy is showing marked improvement,” Miller said. “After leveling off for some six months, revenue collections have resumed their positive trajectory.”

October gross production collections remain below last year’s numbers. The state’s other major revenue streams — sales and motor vehicle taxes — grew during October, up 4 percent and almost 12 percent, respectively, Miller reported.

The state treasurer also reported that “the Business Conditions Index for Oklahoma improved in October. The leading economic indicator rose to 63.3 from 56.6 in September. Numbers above 50 mean growth is expected. The weakest number in the survey, while still in positive territory, is in the area of employment, due to some reports of shortages of skilled workers.”

Oklahoma’s seasonally adjusted unemployment rate rose to 5.2 percent in September, according to the Oklahoma Employment Security Commission.

Joy Hampton366-3539jhampton@normantranscript.com

 

For local news and more, subscribe to The Norman Transcript Smart Edition, or our print edition.

Text Only | Photo Reprints
Headlines
  • Coaches Luncheon Mixon question off-limits at coaches luncheon

    Toby Rowland addressed the elephant in the room even before Oklahoma football coach Bob Stoops, defensive coordinator Mike Stoops and offensive coordinator Josh Heupel arrived Wednesday at Journey Church....

    July 31, 2014 1 Photo

  • Mixon will not participate in practice

    Preseason practice begins for Oklahoma today. Freshman running back Joe Mixon will not be there. The school announced the decision Wednesday night....

    July 31, 2014

  • Nova Pettigrew Music community bands together to raise money for 2-year-old’s battle with rare form of cancer

    Two-year old Nova Pettigrew was diagnosed with a rare form of cancer six weeks ago. Her father, former Deli sound technician and musician James Pettigrew, noticed something was wrong when running turned to walking, then limping, then ...

    July 31, 2014 1 Photo

  • Deputies cleared, return to work

    Two deputies involved in a deadly shooting earlier this month are expected to return to work today after being cleared by the Cleveland County District Attorney’s Office. “They (the Sheriff’s Office) gave me their investigation, I ...

    July 31, 2014

  • Sales tax-free weekend set to begin this weekend

    When stores open Friday morning, shoppers may be waiting. Oklahoma’s annual sales tax holiday is slated to run this weekend with the special exemption beginning at 12:01 a.m. on Friday and ending at midnight on Sunday....

    July 31, 2014

  • India landslide kills 21

    NEW DELHI — Rescuers worked in rain today to dig through a remote village in western India where at least 21 people died as a landslide swept away scores of houses, possibly trapping many more people under debris, officials said....

    July 31, 2014

  • Israeli strike hits UN school

    GAZA CITY, Gaza Strip — Israeli artillery shells tore through the walls of a U.N. school crowded with sleeping war refugees and back-to-back explosions rocked a market filled with shoppers Wednesday as Israel’s stepped up campaign against ...

    July 31, 2014

  • Busted water main dumps 20 million gallons of water into UCLA’s Pauley Pavilion and adjacent garage

    LOS ANGELES — The rupture of a nearly century-old water main that ripped a 15-foot hole through Sunset Boulevard and turned a swath of the University of California, Los Angeles into a mucky mess points to the risks and expense many cities ...

    July 31, 2014

  • GOP-led House gives go-ahead for suit

    WASHINGTON — A sharply divided House approved a Republican plan Wednesday to launch a campaign-season lawsuit against President Barack Obama, accusing him of exceeding the bounds of his constitutional authority. Just a day before ...

    July 31, 2014

  • Felonies filed

    The following people were charged with felony counts in the Cleveland County Court Clerk’s Office: · Randall Lee Sherrill, 34, possession of juvenile pornography · Dewey Leon Kinsey, 37, possession of controlled dangerous ...

    July 31, 2014