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Sales Tax Update

March sales tax collections are based on retail sales made in February 2011, but also include delinquent collections from prior periods.

Due to the .85% tax increase, tax collections are no longer an accurate comparison for year-to-year activity. Instead, the monthly sales and use tax report will also include net taxable amounts, which are the amount of goods sold or purchased that are subject to sales or use tax.

Please visit http://www.fcgov.com/salestax to read the complete report.

Keep Fort Collins Great Sales Tax: $1.5 million

Net Taxable Subject to Sales Tax: $179.9, an increase of 10.5% from March 2010.

Net Taxable Subject to Use Tax: $23.5 million, an increase of 0.8% from March 2010.

National Sales Tax: Increased 8.9%, compared to Fort Collins’ increase of 10.5%.

Building permit collections: Decreased 3.8% in March.

Permits pulled:

Residential:  24 compared to 23 in March 2010. Residential remodels:  81 permits. In March 2010 there were 48 remodel permits.

Commercial: 1 permits for new construction, 35 for remodeling. In March 2010, 1 permit was pulled for new construction, 25 permits for remodeling.

Sales Tax Licenses: 104 applications for sales tax licenses for new businesses and 76 businesses terminated their licenses in March.