Oklahoma Revenue Collections Continue to Climb
KSCB News - November 14, 2012 5:56 am
OKLAHOMA CITY (AP) – Oklahoma finance officials say solid revenue collections last month provide further evidence that the state’s economy is continuing to improve.
Figures released on Tuesday by the Office of State Finance show collections to the state’s general revenue fund in October totaled $439 million – nearly 10 percent more than the official estimate. Collections were also more than 7 percent higher than those from October of 201.
The state’s general revenue fund is the primary operating fund for state government.
October’s figures show increases in all but one major category of tax collections – the exception being gross production taxes on natural gas, which was down nearly 85 percent from October 2011.
Overall corporate and individual income tax collections were up more than 22 percent from last year’s collections.