Sales Tax Update
January sales tax collections are based on retail sales made in December 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: $253.6 million, an increase of 6.3% compared to January 2011.
- Keep Fort Collins Great collections: $2.1 million
- Nationally, December sales tax collections increased 6.5% compared to Fort Collins’ increase of 6.3%.
- Net Taxable Subject to Use Tax: $33.6 million, an increase of 31.1% compared to January 2011.
- Building Permit receipts increased 28.4% compared to January 2011.
- Sales Tax Licenses: The City received 111 new applications for sales tax licenses and 174 businesses terminated their licenses in January. There were 10,527 active sales tax licenses at the end of January.
Read the full Sales Tax and Revenue report (hyperlink: http://www.fcgov.com/salestax)