State revenue collections down
Wednesday, June 12th 2002, 12:00 am
By: News On 6
OKLAHOMA CITY (AP) _ State revenue collections were down $14 million in June, compared with the same month a year ago, Office of State Finance officials said Tuesday.
Income taxes increased by $2.3 million, or 1.5 percent, while sales taxes were down $1.3 million, or 1.5 percent.
Natural gas tax collections declined by $17.2 million, or 43.2 percent.
Motor vehicle taxes increased $500,000, while there was a $1.7 million increase in the ``other revenue'' category, which includes tobacco and alcohol taxes and investment interest.
The failure of tax collections to meet expectations forced officials to reduce allocations to state agencies in June by 16.8 percent.
The fiscal year ends June 30.