Sales tax and tourism tax collections continue to leap ahead despite the continuing pandemic and related challenges for businesses.
A few months into the new fiscal year, Corinth’s cumulative sales tax total is 6 percent ahead of the same point a year ago, with a total of $1.767 million, a gain of almost $100,000 over the prior year.
The city’s latest monthly diversion, received at mid-December, totaled $593,721.39, an increase of 6.8 percent, or about $37,800, from a year earlier. It is the highest total to date for that month, which reflects sales activity transacted with local merchants during October.
The majority of Mississippi cities and towns enjoyed a month in the black as collections across the state collectively rose 12.5 percent for the period. Special taxes across the state such as tourism taxes did even better, collectively rising 16 percent.
The 2 percent tourism tax on food and lodging in Corinth was among the gainers. The tax generated $121,459 for the month, rising 8.7 percent, or about $9,700, from a year earlier.
Among other special taxes in the area, Booneville’s tourism tax collected $41,534, nearly unchanged from a year ago, and the Tishomingo County promotion tax collected $3,079, up from $1,111 a year ago.
The recently ended fiscal year was another record-setter for Corinth’s sales tax result, with $7.1 million going into the city coffers.
Other sales tax results from the region for the latest month reported by the Mississippi Department of Revenue:
Booneville – $187,647.12 (-1%)
Burnsville – $15,866.28 (-2%)
Farmington – $5,518.05 (+4%)
Glen – $5,012.03 (+17%)
Iuka – $83,750.92 (+8%)
Kossuth – $3,932.96 (-18%)
Rienzi – $3,233.82 (-3%)
Ripley – $141,341.05 (-4%)
Tishomingo – $22,306.60 (+52%)
Tupelo – $2,139,195.56 (+11%)
Walnut – $29,830.70 (+20%)