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Oklahoma revenue down slightly in September but tops 2020

November 3, 2021 GMT

OKLAHOMA CITY (AP) — Oklahoma revenue collections in October were down slightly from September but 16% higher than one year ago, state Treasurer Randy McDaniel said Wednesday.

The state collected $1.27 billion in October, compared to $1.38 billion the previous month, according to data from the treasurer’s office.

October collections were $175.8 million more than October 2020.

“The growth we are seeing reflects true economic expansion even when inflationary factors are taken into consideration,” McDaniel said in a statement.

Sales and use taxes rose by $69 million from a year ago to $529.1 million, according to the data. Gross production taxes on oil and natural gas brought in $105.8 million, an increase of $57.8 million from 2020 figures and the third consecutive month of more than $100 million in collections.

For the previous 12 months, gross revenue collected totaled $14.7 billion. That was $1.48 billion, or 11.2 percent, above collections from the previous 12-month period.