Oklahoma Gross Receipts to the Treasury, which reflect general state economic activity, surged by 14 percent in September – the tenth month of double-digit growth in the past year, State Treasurer Ken Miller announced today.
Gross receipts of $1.2 billion during the past month are the highest September total on record. Cumulative gross receipts from the past 12 months, at $12.5 billion, are also at an all-time high.
“Oklahoma’s economy continues to climb the expansion side of the business cycle,” Treasurer Miller said. “As we saw last week with the ratings outlook upgrade from negative to stable by Moody’s Investors Service, the state’s economic and policy improvements are being noticed well beyond our borders.”
September gross receipts brought increased collections in every major revenue stream compared to the same month of last year, ranging from 110 percent in gross production taxes on oil and natural gas to 0.1 percent in motor vehicle taxes.
Twelve-month gross receipts show healthy increases in collections in all major tax sources compared to the prior period.