October tax revenues beat the estimate and exceeded collections in October 2009, Oklahoma Treasurer Scott Meacham said last week, the second consecutive month that both benchmarks were bested.
“Oklahoma’s recovery from the recession is slow but steady,” Meacham said “Since March, we have exceeded prior-year collections in all but one month, and since February we have exceeded the estimate six of the nine months.”
General fund revenues of $383.8 million in October were $9.4 million higher than the official estimate and $13.7 million more than last year.
Collections in the first four months of fiscal 2011 total $1.56 billion, up $84 million from the same period of fiscal 2010 and $59 million more than projected.
The state sales tax produced $134.2 million for the month, which is $16.7 million more than October 2009 and $8.5 million above the estimate.