Oklahoma Revenues On The Rise

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 (DURF’-ling-er) 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.