Claremore Daily Progress


May 14, 2013

Income tax receipts fuel Oklahoma revenue boost


State finance officials say an increase in income tax collections helped raise revenue collections for the month of April above those from both the prior year and the official estimate.
Secretary of Finance Preston Doerflinger (DOR’-fling-ur) says collections to the state’s General Revenue Fund last month totaled more than $700 million. 

That’s an increase of nearly $90 million, or 15 percent, from the same month last year. Much of the growth was from an increase in net income tax collections, which includes both individual and corporate tax collections. 

Total income tax receipts beat the official estimate for the month by more than 15 percent.

Doerflinger reports that sales tax receipts and motor vehicle taxes both are less than last year and below the estimate.

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