Sales Tax Update
October sales tax collections, based on retail sales made in September 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: $200.9 million, an increase of 6.9% compared to October 2010.
- Keep Fort Collins Great collections: $1.8 million
- Nationally, September sales tax collections increased 7.9% compared to Fort Collins’ increase of 6.9%.
- Net Taxable Subject to Use Tax: $37.9 million, a decrease of 5.5% compared to October 2010.
- Building Permit receipts decreased 33.8% compared to October 2010.
- Sales Tax Licenses: The City received 89 new applications for sales tax licenses and 80 businesses terminated their licenses in October. There were 10,721 active sales tax licenses at the end of October.