Sales Tax Collections Remain Steady For Yalobusha Towns

Staff Report

    Sales tax collections in Yalobusha municipalities remain steady, bucking a state-wide seven percent decline during the first six months of the current fiscal year which started July 1, 2009.

    In Water Valley,  the Mississippi State Tax Commission has diverted $241,773.93 from July to December. This amount is down two percent from 2008, when the town received $246,402.40 during the same six month-period last year.

    The state returns approximately 18 percent of the seven percent collected in sales tax to the municipalities in which they were paid.

    The Town of Coffeeville has recorded a 3.6 percent increase in the money it receives from the state from sales tax since July 1. Coffeeville has received $61,172.65, compared to $59,040.22 last year.

    The county’s third municipality, Oakland has fared strongest, experiencing a seven percent increase in sales tax diverted back to the town from July to December. In 2009, Oakland  received $26,659.65 from July to December, compared to $24,919.46 in 2008.

    Sales tax figures provided by the Mississippi State Tax Commission come from businesses who pay their share in the month following collections and are reported the following month. These are the latest figures published from reports dated December.