Share “Oklahoma tax collections increase in March”

Oklahoma tax collections increase in March

Oklahoma state tax collections grew more than 4 percent in March, boosted by double-digit growth in revenues from personal income taxes and oil and gas production, state Treasurer Ken Miller announced Thursday.
by Randy Ellis Published: April 3, 2014
Advertisement

State tax collections grew more than 4 percent in March, boosted by double-digit growth in revenues from personal income taxes and oil and gas production, state Treasurer Ken Miller announced Thursday.

State revenue collections were $985.02 million in March. That’s an increase of $40.46 million, or 4.3 percent, over March 2013.

“Clearly, Oklahoma’s economy continues to do relatively well,” Miller said, noting that state revenues for the past 12 months also are up more than 4 percent.

March personal income tax collections and revenues from gross production taxes on oil and gas were particularly strong, he said.

The state received $287.06 million from personal income tax collections, an increase of 14.8 percent from the same month a year earlier. Gross production taxes generated $75.57 million in March, an increase of 13 percent from the prior year.

Miller said one weak area continues to be corporate income tax collections, which declined 14.2 percent to reach $100.26 million in March.

The treasurer also reported:

•March sales tax collections totaled $343.84 million, a 5 percent increase over March 2013.

•Motor vehicle taxes totaled $58.91 million, up 6 percent over the same month last year.

•Tax collections from about 60 smaller sources raised $119.38 million in March, which was 6.5 percent less than last March.

Personal income in Oklahoma rose 3.3 percent in 2013. That’s the seventh-highest growth rate in the nation, Miller said.

Meanwhile, the state’s unemployment rate dropped from 5.2 percent in January to 5 percent in February, he said.

by Randy Ellis
Investigative Reporter
For the past 30 years, staff writer Randy Ellis has exposed public corruption and government mismanagement in news articles. Ellis has investigated problems in Oklahoma's higher education institutions and wrote stories that ultimately led to two...
+ show more


AROUND THE WEB

  1. 1
    Westminster teen places ad on Craigslist, asks to rent family for her birthday
  2. 2
    Ginnie Graham: Children of imprisoned mothers have unique challenges, study shows
  3. 3
    Fellow Congressman Was Told About Dennis Hastert Abuses, Source Says
  4. 4
    William Shatner making pit stop in Oklahoma City during cycle ride
  5. 5
    Tulsa man jailed after leading police on high-speed chase in stolen vehicle
+ show more