News Flash Home
The original item was published from 10/31/2019 2:08:33 PM to 11/8/2019 5:05:00 PM.

News Flash

Fountain Valley News

Posted on: November 1, 2019

[ARCHIVED] Fountain Valley Sales Tax Update for Second Quarter 2019

Q2 2019 Sales Tax Update

Fountain Valley's receipts from April through June were 17.8% above the second sales period in 2018. However, this comparison is inflated due to CDTFA's transition to a new reporting system in the prior year which temporarily delayed distributions to the City. Excluding reporting aberrations, actual sales were up 3.6%. 

Strong sales by multiple general consumer retailers and increased returns from service stations were largely responsible for the overall adjusted growth. The City also saw solid summer receipts by building-construction vendors and the recent opening of a grocery store further contributed. In contrast, the closeout of a casual dining establishment hurt restaurant results, while one time allocations received in the prior year temporarily impacted business-industry.

The City's voter approved one-cent transaction tax, Measure HH, generated an additional $3,245,218 a 17% increase over last year, was also dramatically impacted by CDTFA software changes. Once adjusted, the measure experienced a solid 8% gain.

To read about California overall and marketplace facilitator act, click here

Additional Info...
Facebook Twitter Email