Claremore Daily Progress

Business

February 12, 2013

State's collections for January best of fiscal year

OKLAHOMA CITY — Oklahoma finance officials say collections to the state’s general revenue fund in January were the highest of the first seven months of the fiscal year, fueled mostly by a surge in income tax collections.

Figures released Tuesday by Finance Secretary Preston Doerflinger (DOR’-fling-ur) show collections to the general revenue fund last month totaled $578.3 million. That’s a 10 percent increase over January 2012.

Combined personal and corporate income taxes totaled $281.5 million, which is nearly 20 percent more than January 2012 and more than 20 percent above the official estimate.

Sales tax revenue also exceeded both prior year collections and the estimate.

A state panel will meet Feb. 19 to certify the final revenue estimate that lawmakers will use to write the Fiscal Year 2014 budget.

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