Oklahoma Treasurer Says Economic Momentum Continues

Thursday, April 3rd 2014, 5:01 pm
By: News On 6

Oklahoma's treasurer says revenue collections by the state pushed higher in March, led by energy production, personal income and consumption.

Treasurer Ken Miller said Tuesday collections in March grew by more than 4 percent over the same month last year. The growth rate for the past 12 months also topped four percent.

Miller says collections from oil and gas extraction and personal income grew by double digits. Sales tax and motor vehicle collections expanded by more than 5 percent.

Collections have exceeded the prior year 10 times in the past year, with oil and gas production taxes up for 11 consecutive months.

Corporate income taxes were the only major revenue stream that was lower than last March. It has dipped below prior year levels seven of the past 12 months.