December, 2007 Earnings Tax Report

A monthly feature

Every month, John Hanrahan submits an Earnings Tax Report to council. Below is the summary information from the December report, which includes the year-end net earnings taxes collected.

December Collections
Individual……….$21,780.79
Business……….$169,215.94
Withholding…...$949,199.66
TOTAL……….$1,140,196.39

Collections thru December 2007.………........$15,577,888.24
Collections thru November 2006.……..…......$13,662.820.96
Increase in collections over 2006..14.02%..,$ 1,915,067.28

Net Tax Collected 2007
Individual…..……...$1,324,374.03
Business……..……..$3,020,278.94
Withholding……...$11,233,235.27
Total Collected….$15,577,888.24
Less Refunds…….$ 180,405.86
Net Collected…….$15,397,382,38

Net Collected 2006: $13,532,186.61
Net Increase 2007: $ 1,865,195.77