State Revenue Collections Drop

Tuesday, November 13th 2007, 3:10 pm
By: News On 6

OKLAHOMA CITY (AP) -- State revenue collections for October fell in three of four major categories. A report released on Tuesday by state Treasurer Scott Meacham shows the state collected $30.3 million less in October this year than in October 2006.

The collections are also $16.6 million less than the official estimate which is used to build the state budget.

Treasurer Scott Meacham says individual and corporate income taxes fell by more than $23.5 million, sales taxes are down about $400,000 and the tax on natural gas fell by $7 million.

The tax on sales and licensing of motor vehicles rose by $3.7 million.