Oklahoma's Revenue Collections Continue Downward Slide

<p>Oklahoma's treasurer says overall revenue collections to the state treasury are continuing on a downward slide. Ken Miller reported Friday that annual gross receipts to the treasury in 2016 shrank by 7.4 percent compared to the previous year. </p>

Saturday, January 7th 2017, 9:04 am

By: News On 6

Oklahoma's Revenue Collections Continue Downward Slide

Oklahoma's treasurer says overall revenue collections to the state treasury are continuing on a downward slide.

Ken Miller reported Friday that annual gross receipts to the treasury in 2016 shrank by 7.4 percent compared to the previous year.

News Release

Miller says gross receipts last month totaled $901 million, which is a decrease of more than $47 million, or 5 percent, from December 2015.

Calendar year 2016 Gross Receipts to the Treasury show ongoing impact of energy sector contraction. https://t.co/Ar4pAB73XP
— Treasurer Ken Miller (@OKTreasurer) January 6, 2017

The one bright spot in Miller's report is that collections from oil and natural gas production taxes increased slightly last month compared to the same month in 2015. The 4.4 percent increase is the third consecutive month that production taxes increased over the previous year.

But income, sales and motor vehicle taxes in December all trailed prior year collections.

The Associated Press contributed to this report.

But income, sales and motor vehicle taxes in December all trailed prior year collections.

The Associated Press contributed to this report.

","published":"2017-01-07T15:04:35.000Z","updated":"2017-01-07T15:53:45.000Z","summary":"

Oklahoma's treasurer says overall revenue collections to the state treasury are continuing on a downward slide. Ken Miller reported Friday that annual gross receipts to the treasury in 2016 shrank by 7.4 percent compared to the previous year.

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