Share “Oklahoma's revenue collections post gain...”

Oklahoma's revenue collections post gain in March

Corporate income tax collections and gross production tax collections on natural gas led Oklahoma's revenue growth, the state treasurer says.
BY MICHAEL MCNUTT Modified: April 3, 2013 at 8:52 pm •  Published: April 4, 2013

Total revenue collections for the month were $944.6 million, up $24 million, or 2.6 percent, compared with last March, Miller said. Total revenue collections are considered a reflection of the performance of the state's economy.

Sales tax receipts produced slightly less revenue than during last March, down by $5.3 million, or 1.6 percent, Miller said. Motor vehicle tax collections were down $6.9 million, or 11.2 percent compared with last March.

“With less purchasing of motor vehicles and slightly lower consumer spending as measured by sales tax collections, it could be that we are beginning to see the psychological impact of Washington's inability to reach consensus on getting government spending under control in a strategic way,” Miller said.