Oklahoma Revenues On The Rise

Oklahoma finance officials say collections to the state’s general revenue fund in January were the highest of the first seven months of the fiscal year, fueled mostly by a surge in income tax collections.

Figures released Tuesday by Finance Secretary Preston Doerflinger (DOR’-fling-ur) show collections to the general revenue fund last month totaled $578.3 million. That’s a 10 percent increase over January 2012.

Combined personal and corporate income taxes totaled $281.5 million, which is nearly 20 percent more than January 2012 and more than 20 percent above the official estimate.

Sales tax revenue also exceeded both prior year collections and the estimate.

A state panel will meet Feb. 19 to certify the final revenue estimate that lawmakers will use to write the Fiscal Year 2014 budget.