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Fiscal analyst: March sales-tax shows one-month rebound; Oklahoma Tax Commission audit repayment distorted comparisons
Summary
Fiscal analyst Matt Newcomb reported a 7.27% increase in March sales-tax collections but said year-to-date collections remain about 0.8% below last year; he explained an Oklahoma Tax Commission repayment recorded under an unclassified NAICS category depressed comparative figures for recent months.
The board heard a monthly sales-tax update in which Matt Newcomb, fiscal analyst for the city, said March collections showed a 7.27% uptick for the month while year-to-date sales-tax collections remained down about 0.8%.
Newcomb explained that an Oklahoma Tax Commission audit required a repayment of taxes that…
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