Ponca City, OK

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Oklahoma October tax collections up 10.6 percent over 2016

The Associated Press - November 4, 2017 11:22 am

Oklahoma October tax collections up 10.6 percent over 2016
OKLAHOMA CITY (AP) – Oklahoma state Treasurer Ken Miller says the state collected 10.6 percent more revenue in October than in October 2016, with nearly 19 percent of the increase due to the elimination of some tax exemptions and rebates as well as some new fees.
Miller said Friday the treasury collected $980.2 million in October, an increase of $90.4 million from the same month last year and called the growth encouraging.
The Oklahoma Tax Commission says $17.8 million of the increase comes from bills passed during the regular Legislative session.
Those bills remove a 1.25 percent sales tax exemption on vehicle sales, add a $5 dollar fee on vehicle registrations, eliminate a rebate on gross production taxes, end a discount for businesses that remit sales taxes, and add a fee to professional sports tickets.

 

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