Retail sales continue to rise, taxes show

Posted 5/26/22

Sales tax revenues for Wood County cities and the county government continue to climb.

The May report from the state comptroller’s office shows the six cities that collect a tax on retail …

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Retail sales continue to rise, taxes show

Posted

Sales tax revenues for Wood County cities and the county government continue to climb.

The May report from the state comptroller’s office shows the six cities that collect a tax on retail sales earned $600,783, up from $576,112 in May 2021.

The taxes are primarily those collected by businesses during March and reported to the state in April. The cities and county are rebated their shares monthly. The cities collect 1.5% on top of the state’s 6.25% tax on retail goods and services. The county collects an additional half-cent for a total rate of 8.25%, the maximum allowed.

The county collected $249,158 in May, up slightly from last year’s $246,895, bringing the total collections in May to $849,941 compared to $823,007 a year ago.

Two cities saw slightly smaller rebates in May. Hawkins collected $39,086 compared to $40,670 in May 2021. Winnsboro brought in $152,708 compared to $153,524 last year.

Alba sales tax income jumped 36% from $23,440 in May 2021 to $31,960 in May 2022.

Quitman tax income rose almost 11% from $84,341 to $93,599.

Mineola’s receipts are up 3.4% for the month to $272,743. Last May saw $263,787 come in.

Yantis saw a slight uptick with revenues for the month of $10,684. They were $10,347 last year.

For the year (five months), the seven entities have banked $3,762,401 compared to $3,345,696 through May 2021.

The cities’ share of that was $2,599,009, up from $2,337,656.

The county has added $1,163,392 to the coffers so far this year, a 15.4% gain from $1,008,040.

Alba is almost 19% ahead of last year at $125,574.

Mineola sales tax income has risen 13.3% to $1,191,583, or $140,000 more.

Quitman shows a yearly increase just under 7% to $384,971.

Winnsboro income remains ahead of last year by more than 10% at $680,584.

Hawkins is 8.27% ahead with revenues of $172,381.

Yantis is slightly behind at $43,913 compared to $44,599 in 2021.