City tax diversion receipts rise
Brookhaven’s receipts of sales tax diversions are no longer on a month-to-month upward climb due to a dip in February, but March’s numbers are slightly higher, and receipts are still markedly higher than at this point in 2016.
Numbers for February 2016 were $406,784.15. February 2017, however, had receipts of nearly $57,000 over that, totaling $463,780.20. March 2017 receipts total $466,558.75, just $5,000 over last year’s numbers.
The total for the fiscal year to date, since July 1, 2016, is $4,294,254.10, up from 2016’s $4,188,472.62.
Sales tax has a three-month cycle. Month one is when the tax is collected by the retailer; month two is when the tax is reported and paid to the Department of Revenue by the retailer; and in month three, the sales tax diversion is paid by the Mississippi Department of Revenue to the cities.
This means the amount labeled as “March” shows the tax collected in the previous month of February, for which the city receives a check in April. These reports are provided by the MDR.