Ponca City, OK

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Oklahoma treasurer reports overall collections still strong

The Associated Press - March 9, 2019 8:41 am

OKLAHOMA CITY (AP) – Oklahoma’s new state treasurer says overall collections to the state treasury are continuing to increase, aided in part by a $50 million boost last month from a new package of tax increases.
Treasurer Randy McDaniel released figures on Friday that show total receipts in February were $971 million. That’s an increase of more than 10 percent from collections during the same month last year.
The figures show that the new tax hikes resulted in a boost of $33 million last month from oil and gas production, $10 million from cigarettes, and $7.1 million from motor fuel.
Despite lower oil and gas prices, McDaniel reported all major revenue streams last month showed higher collections than February 2018.

 

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