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2:54 pm
Tue August 14, 2012

Finance Official: Oklahoma Revenue Collections Rise

OKLAHOMA CITY (AP) — The Office of State Finance reports revenue collections for the first month of the 2013 fiscal year were up $6.4 million over last year and about $20 million above the official estimate.

Finance Secretary Preston Doerflinger  said Tuesday July collections totaled $389.1 million.

Three of the state's major revenue sources reported increases. Individual and corporate income tax collections of $160.9 million were $27.6 million more than July 2011's collections and $39.1 million above the estimate. Sales tax collections were $164.5 million — $13.8 million above last year's collections and the estimate.

Motor vehicle taxes brought in $17.2 million — $2.7 million above last year and about $500,000 more than the estimate.

The gross production tax on natural gas and oil was distributed by law to specified funds, primarily education.

Copyright 2012 The Associated Press.

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