Oil, natural gas collections boost Okla. revenue

By: From Wire Reports
By: From Wire Reports

OKLAHOMA CITY (AP) - Oklahoma's treasurer says increases in oil and natural gas gross production taxes in August gave a boost to state revenue for the month.

Treasurer Ken Miller said Wednesday that revenue collections in August totaled $836 million, an increase of about $16 million from August 2012.

Miller says gross production tax collections have exceeded prior month collections for four consecutive months after spending most of the past year in negative territory. In August, gross production receipts exceeded the prior year's numbers by more than 40 percent.

Miller says Oklahoma's economy, powered by the energy industry, continued to grow in August. He says sales tax collections also climbed, but at a more modest pace than the past year.

Sales tax collections totaled $363 million in August, up $6 million from August 2012.

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