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Occupational tax collections top $1 million

According to Occupational Tax numbers for March and April, McCreary County has topped $1,000,000 in receipts from the payroll tax this fiscal year, exceeding projections made in last year’s budget.

While March collections totaled only $89,059.75, the numbers for April came in at $206,799.80, which puts the year-to-date total at $1,004,994.03.

That total is $50,000 more than was anticipated when County Officials drafted the 2014-15 budget, with still two months collections to come.

It is the first time since 2011 when the total collections exceeded the million-dollar mark. At that time the revenues were still divided among local departments.

In 2013 the Fiscal Court amended the distribution to have all funds generated through the Occupational Tax added directly to the General Fund.

Looking at collections for May and June over previous years, an additional $60,000 to $70,000 could be added to the General Fund from the tax.

In the current budget for the next fiscal year, the County is projecting $1,000,000 in payroll tax receipts.

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