Oklahoma City leaders release report on economic impact of coronavirus pandemic on tax collections

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OKLAHOMA CITY (KFOR) – City leaders say they’re getting a better picture at the economic impact the coronavirus pandemic had on Oklahoma City.

On Tuesday, officials released the May sales and use tax summary.

The report shows that combined General Fund collections in Oklahoma City were well below the monthly projection and fell significantly compared to May of 2019.

The General Fund sales tax collections for May were about $18.6 million, which was $3.7 million below the projection. It was also $3.5 million below collections from May of 2019.

On the other hand, the General Fund use tax collections were about $5.4 million in May. That is around $109,000 more than the projection and $314,000 above the same month last year.

Officials say General Fund use tax collections come from goods purchased either online or from somewhere other than Oklahoma City.

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