- Associated Press - Wednesday, June 3, 2015

OKLAHOMA CITY (AP) - Oklahoma’s treasurer says lower oil and natural gas prices helped push state revenue down last month.

Treasurer Ken Miller said Wednesday that gross production, sales tax and motor vehicle tax revenue last month were less than in May last year. Personal income tax collections were also down from last year but corporate income tax collections exceeded receipts during May 2014.

Miller says gross receipts last month were more than 6 percent below this time last year. He says receipts should improve as energy prices rebound.

Gross production taxes on oil and gas generated $38 million, more than $43 million less than a year ago. Sales tax collections in May were down by more than 4 percent, while motor vehicle tax collections were off by more than 5 percent.

Copyright © 2018 The Washington Times, LLC.

The Washington Times Comment Policy

The Washington Times is switching its third-party commenting system from Disqus to Spot.IM. You will need to either create an account with Spot.im or if you wish to use your Disqus account look under the Conversation for the link "Have a Disqus Account?". Please read our Comment Policy before commenting.

 

Click to Read More

Click to Hide