OK Treasury Receipts Up 15%

The Associated Press - July 7, 2022 10:06 am

OKLAHOMA CITY (AP) — According to State Treasurer Randy McDaniel, overall receipts to Oklahoma’s treasury were up 15% during the fiscal year that ended June 30th. He attributed the expanding collections to record-high tax collections on oil and natural gas production.

Overall collections for the 2022 fiscal year totaled $16.46 billion. The figures show Oklahoma’s economy is continuing to expand despite inflationary pressure.

For the first time in state history, collections from oil and gas production taxes topped $1.5 billion during fiscal year 2022. June 2022 oil and gas production taxes totaled $171 million, the highest of any single month.

McDaniel said the record-high collections from oil and gas production in June are based on April production when crude oil averaged nearly $102 per barrel.


Latest Stories

Update: Deputy Killed In Osage County Crash Identified

OSAGE COUNTY, Okla. –  The Osage County deputy who was killed in a crash on Friday...

NASA Themed Event Planned for This Weekend at the Ponca City Library

The Ponca City Library invites you to come explore the first NASA images from the James...

Oklahoma’s Blind Community Will Soon be Able to Vote From Home

TULSA, Okla. (KTUL) — The blind community in Oklahoma will soon be able to vote from home....