Oklahoma revenue collections continue on downward slide
AP - January 7, 2017 10:12 am
OKLAHOMA CITY (AP) – Oklahoma finance officials say overall revenue collections to the state treasury are continuing on a downward slide.
Oklahoma Treasurer Ken Miller reported Friday that annual gross receipts to the treasury in 2016 shrank by 7.4 percent compared to the previous year.
Miller says gross receipts last month totaled $901 million, which is a decrease of more than $47 million, or 5 percent, from December 2015.
The one bright spot in Miller’s report is that collections from oil and natural gas production taxes increased slightly last month compared to the same month in 2015. The 4.4 percent increase is the third consecutive month that production taxes increased over the previous year.
But income, sales and motor vehicle taxes in December all trailed prior year collections.