Sales Tax Update
August sales tax collections, based on retail sales made in July 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: $188.3 million, an increase of 5.1% compared to August 2010.
- Keep Fort Collins Great collections: $1.6 million
- Nationally, July sales tax collections increased 8.5% compared to Fort Collins’ increase of 5.1%.
- Net Taxable Subject to Use Tax: $29.5 million, a decrease of 5.1% compared to August 2010.
- Building Permit receipts Increased 57 % compared to August2010.
- Sales Tax Licenses: The City received 137 new applications for sales tax licenses and 41 businesses terminated their licenses in August. There were 10,649 active sales tax licenses at the end of August.