State Treasurer says Oklahoma’s economy is improving

Ponca City Now - February 6, 2014 8:26 am

OKLAHOMA CITY (AP) – Oklahoma Treasurer Ken Miller says the state’s economy continued to improve last month and set several record highs for revenue collections.

Figures released by Miller on Wednesday show total gross collections to the state treasury last month totaled $1.07 billion, exceeding the previous January high set last year by more than $59 million.

Miller reported record highs also were set last month for sales tax collections and personal income tax withholding payments.

Still, the treasurer cautioned that although overall collections to the state treasury are up, that doesn’t translate to an increase in the state’s General Revenue Fund, the main operating fund for state government.

Collections to that fund have been reduced in part because of tax incentives and dedicated revenue for things like transportation and education.

 

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