Contact Us e-Edition Crossroads Magazine
Monthly tax collections dip
by Jebb Johnston
Jul 25, 2014 | 22 views | 0 0 comments | 7 7 recommendations | email to a friend | print
Tax collections took a minor dip in the latest month while holding onto slight growth for the fiscal year.

The trend across the state in the mid-July deposits was close to flat, and that held true for the city, with $472,590.83 going into the city coffers from sales tax. That is down about $8,000, or 1.8 percent, compared to the same month a year ago, ending a run of seven consecutive months of growth.

The statewide sales tax total for the month was up 1.4 percent.

With two more monthly deposits to go on the books in this fiscal year, the city’s fiscal year total stands at $4.749 million, a gain of 3.2 percent from the same point a year earlier.

Seven of 11 municipalities in the region posted gains for the month.

With $101,857.32 for the month, the 2 percent tourism tax on prepared food and lodging in Corinth was down about $1,800, or 1.8 percent, from a year earlier. For the fiscal year, the tax stands at $929,276.93, up 1.1 percent from fiscal 2013.

Other sales tax results from the region (percentages rounded):

• Booneville — $162,248.09 (+8%)

• Burnsville — $14,031.59 (+8%)

• Farmington — $2,471.58 (-33%)

• Glen — $2,148.49 (+8%)

• Iuka — $72,565.78 (+7%)

• Kossuth — $3,761.78 (+8%)

• Rienzi — $4,210.64 (+16%)

• Ripley — $118,425.39 (+7%)

• Tupelo — $1,475,984.28 (-1%)

• Walnut — $18,108.66 (-6%)
Comments
(0)
Comments-icon Post a Comment
No Comments Yet