The upward trend of Oklahoma’s economy should continue into the holiday season, Treasurer Ken Miller said last week at the release of the monthly tax receipts report.
“We are again seeing growth in all areas measured by revenue collections, which points to an economically healthy holiday season,” Miller said.
“Oklahoma’s economy has consistently outperformed the national average, and there is no indication that will change going into the holiday season,” he said.
November collections were up 13.2% from November 2010, he said. It was the fourth time in the last seven months that monthly revenues exceeded year-earlier collections by more than 10%.
Collections totaled $803 million, up $93.8 million from November 2010. The total includes $321.6 million from the sales tax and $236.8 million from the personal income tax.
Over the past 12 months, revenues totaled $10.6 billion, an increase of $907 million from the 12 months that ended November 2010. Over that period, the sales tax has generated $3.8 billion, with another $3.1 billion from the personal income tax.