Local & Regional
Mon October 1, 2012
State Revenue Up
OKLAHOMA CITY (AP) — Oklahoma Treasurer Ken Miller says overall state revenue collections rebounded last month in spite of continued lower revenue from oil and natural gas production.
Miller reported Monday that three of the state's other major tax categories grew in September compared to the same month last year — including income, sales and motor vehicle taxes.
Miller says collections from Oklahoma's gross production tax on oil and natural gas was down about 40 percent compared to September 2011. But that figure is an improvement from the 54 percent drop in August.
Income tax collections last month increased nearly 16 percent over September 2011, but Miller says he was especially pleased to see sales tax collections jump 6 percent because — he says — sales tax is a measure of consumer confidence.
Copyright 2012 The Associated Press.
Date: 10/1/2012 4:30 PM