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Treasurer: Oklahoma revenue shows continued growth in March

Oklahoma State Treasure Randy McDaniel
Oklahoma State Treasure Randy McDaniel photo courtesy www.ok.gov

OKLAHOMA CITY (AP) -- Oklahoma State Treasure Randy McDaniel says March revenue to the state treasury shows continued growth in the state's economy.

McDaniel said Friday the state collected $1.1 billion during the month, an increase of $101.2 million from March 2018 and continues the state's March 2017 rebound from an economic downturn.

McDaniel said tax increases approved in 2018 that included higher taxes on oil and natural gas production, gasoline and diesel and on cigarettes generated $54.2 million of the growth.

The treasurer said individual income and corporate taxes produced $354.8 million, a rise of $31.3 million from the same month a year ago; sales tax collections rose by $383 million, up $14.1 million; and the oil and natural gas taxes raised $96.2 million, an increase of $23.5 million.

McDaniel said about 60 other taxes provided $182.6 million during the month, up by $39.2 million.

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