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Yankton manager says $362,061.87 sales-tax reporting error will reduce projected revenue, forces budget choices
Summary
City Manager Amy Leon told the City Commission an amended state return revealed a $362,061.87 reporting error that drops annual sales-tax performance from +7.3% to -0.79%, prompting adjustments to the upcoming capital improvement and budget planning.
City Manager Amy Leon told the Yankton City Commission on June 9 that the South Dakota Department of Revenue notified the city of a taxpayer reporting error that reduced the city’s projected sales-tax revenue by $362,061.87. Leon said the amended return changes the city’s year-to-date sales-tax growth from a positive 7.3% to a negative 0.79%.
Why it matters: Leon said the reduction will affect the capital improvement plan and other budget choices the commission had been preparing to consider. She scheduled a June 16 work session on outside agencies and the capital improvement plan to allow the…
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