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Oklahoma Revenues Continue Upward Trend

KSCB News - May 3, 2012 8:14 am

Oklahoma Treasurer Ken Miller says the

state’s total revenue collections are resuming their upward trend

despite the impact that low natural gas prices are having on state

finances.

Miller released figures on Wednesday that show total collections

for April were $1.16 billion, an increase of 7.7 percent over the

same month last year. He reported that every major source of

revenue was up over the same month a year ago, with the exception

of taxes on oil and natural gas production, which dropped by more

than 20 percent.

It is the fifth straight month that collections from the gross

production tax were below collections from the same month in the

prior year.

But Miller says he remains confident that other sources of

revenue will make up for decline in the price of natural gas.

 

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