Business and Economy
10:00 pm
Wed August 6, 2014

Oklahoma Treasurer: July Revenue The Highest Ever

Oklahoma Treasurer Ken Miller
Oklahoma Treasurer Ken Miller
Credit Joe Wertz / StateImpact Oklahoma

Oklahoma Treasurer Ken Miller says revenue to the state treasury in July was higher than any July in state history.

Miller said Wednesday the state economy's healthy performance last month pushed 12-month collections further into record territory.

Growth in monthly collections from personal income and corporate income taxes was especially good, accounting for more than 50 percent of the increase in July.

July collections topped $992 million, while 12-month collections are now just under $11.8 billion. All major revenue categories experienced growth, with total collections topping the prior year by 7.4 percent. Collections for the past 12 months are up by more than 4 percent.

Gross income tax collections and the state's tax on oil and natural gas production showed the largest gains at 13.6 percent and 11.1 percent, respectively.

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