Oklahoma’s monthly gross revenues reached a record high of $1.27 billion in April, beating the previous monthly high of $1.16 billion in April 2008 by almost 10%.
The high collection total is a good sign, Treasurer Ken Miller said, but it is too soon to call it a trend.
“These numbers indicate Oklahoma’s economic expansion continues,” Miller said. “April collections are obviously good, but just as we wouldn’t make too much of one decidedly negative month, we should not read too much into this one.”
Collections over the past 12 months of $11.22 billion are close to the previous period peak of $11.28 billion set in December 2008, Miller said.
Income tax receipts were $100 million more than in April 2012, he said, and accounted for 53% of all collections during the month.
The income tax brought in $668.6 million, up $103.2 million from last year. The personal income tax totaled $562 million.
Sales tax collections, including revenue that will be returned to cities and counties, totaled $357.4 million, an increase of more than $10.11 million from April 2012.
Revenue from oil and natural gas production taxes fell to $57.1 million, down $9.7 million from March collections.