DALLAS -- Oklahoma revenue in September grew by more than 8% from the same month last year, the highest growth rate since April 2013, state Treasurer Ken Miller said.
Gross receipts for the month surpassed $1 billion, more than $80 million above those of September 2013, Miller said.
Gross receipts from the last 12 months are at record levels, exceeding $11.9 billion with a growth rate of more than 5%.
"As a measure of economic activity, September gross receipts to the Treasury indicate healthy expansion in Oklahoma," Miller said in a report announcing the results.
Sales and gross income tax receipts grew by almost 5% and 8% respectively for the month. The gross production tax on oil and natural gas surged nearly 12% for the month and by more than 16% for the past 12 months.
"Any month where you see all major revenue categories in positive territory is a good one," Miller said. "Coupled with an expanding business conditions index and low unemployment, this month is nothing but good news."
Oklahoma's unemployment rate continues to reflect the state's relatively strong economic condition with the August jobless rate set at 4.7% compared to the U.S. rate of 6.1%.
The Oklahoma business conditions index for September rose to 58 from 54 in August, indicating expanding economic conditions in the next several months. Numbers above 50 are indicative of future economic growth.
For the past 12 months, personal income tax collections total $3.68 billion, up by $155.77 million or 4.4% from the prior 12 months. Corporate collections are $543.42 million for the period, a drop of $66.09 million or 10.8% from the previous period.
Sales taxes generated $4.39 billion, an increase of $150.33 million or 3.5% from the prior 12 months.
Oil and gas gross production tax collections brought in $885.2 million during the 12 months, up by $123.11 million or 16.2%.
Motor vehicle collections total $803.36 million, an increase of $127.36 million or 18.8% from the trailing 12 months.
Other sources generated $1.61 billion, up $87.26 million or 5.7%.
Oklahoma carries general obligation ratings of AA-plus from Standard & Poor's and Fitch Ratings and Aa2 from Moody's Investors Service.
