YOUR BUSINESS AUTHORITY

Springfield, MO

Log in Subscribe

Springfield's sales taxes up 15% in fiscal year

Posted online

To date, fiscal 2022 sales tax collections are up 15.3% for the city of Springfield.

Through January, the city has collected $24.3 million, up from $21.1 million at the same time in fiscal 2021, according to a news release. The city's fiscal year ends June 30.

Compared with the city's projection for this time of the fiscal year, actual collections are 17.1% above budget. Collections for the month of January were roughly $4.5 million.

The latest sales tax check from the Missouri Department of Revenue represents sales processed in December for transactions primarily made in November, according to the release.

The city relies on sales tax revenues for vital services such as police and fire operations. Roughly 56% of revenue in Springfield's general fund comes from sales and use taxes.

Comments

No comments on this story |
Please log in to add your comment
Editors' Pick
Open for Business: 417 Cocktails

417 Cocktails LLC moved; 7 Brew Coffee added its first shop in Lebanon; and Branson outlet store for Baltimore, Maryland-based sports apparel retailer Under Armour relocated.

Most Read
Update cookies preferences