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Oklahoma revenue collections up 15% during last fiscal year

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OKLAHOMA CITY (AP) — Fueled by record tax collections on oil and natural gas production, overall gross receipts to Oklahoma's treasury were up by 15% during the last fiscal year. State Treasurer Randy McDaniel says overall collections for the fiscal year that ended June 30 are $16.46 billion. That's a 15% increase from the previous fiscal year. McDaniel reports for the first time in state history, collections from oil and gas production taxes topped $1.5 billion during fiscal year 2022. The figures show Oklahoma's economy is continuing to expand despite inflationary pressure. June 2022 oil and gas production taxes totaled $171 million, the highest of any single month.