State gross receipts down in August

Ponca City Now - September 4, 2015 8:50 am

OKLAHOMA CITY (AP) – State finance officials say overall collections to the state treasury declined again last month, driven mostly by lower collections from oil and natural gas production taxes.

Oklahoma Treasurer Ken Miller said Thursday that gross receipts to the state treasury in August were down 3.5 percent from collections during the same month last year. It is the fourth consecutive month in which collections trailed those from the same month in 2014.

Miller reported that collections from oil and gas production were down nearly 46 percent in August, which includes receipts from oil field activity in June when the per-barrel price of oil was about $20 higher. The impact of the lower oil prices in August will likely be seen in the coming months.

 

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