Oklahoma treasurer reports overall collections still strong
OKLAHOMA CITY (AP) — Oklahoma’s new state treasurer says overall collections to the state treasury are continuing to increase, aided in part by a $50 million boost last month from a new package of tax increases.
Treasurer Randy McDaniel released figures on Friday that show total receipts in February were $971 million. That’s an increase of more than 10 percent from collections during the same month last year.
The figures show the new tax hikes resulted in a boost of $33 million last month from oil and gas production, $10 million from cigarettes and $7.1 million from motor fuel.
Despite lower oil and gas prices, McDaniel reported all major revenue streams last month showed higher collections than February 2018.