Sales Tax update
July sales tax collections, based on retail sales made in June 2011, but also includes 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.
- Net Taxable Subject to Sales Tax: $203.8 million, an increase of 7.6% compared to July 2010.
- Keep Fort Collins Great collections: $1.8 million
- Nationally, June sales tax collections increased 8.1% compared to Fort Collins’ increase of 7.6%.
- Net Taxable Subject to Use Tax: $38.4 million, an increase of 50.1% compared to July 2010.
- Building Permit receipts Increased 361.9 % compared to July 2010.
- Sales Tax Licenses: The City received 108 new applications for sales tax licenses and 61 businesses terminated their licenses in July. There were 10,553 active sales tax licenses at the end of July.