Oklahoma revenue continues growth, but warning signs ahead
OKLAHOMA CITY (AP) — Oklahoma State Treasurer Randy McDaniel says April revenue to the state treasury shows continued growth in the economy, but he says there are warning signs for the future.
McDaniel said Monday the state collected $1.6 billion, up $177.9 million, or 12.7%, from April 2018. Gross revenue totals $13.4 billion from the past 12 months. That is $1.5 billion, or 12.3%, more than from the previous 12 months.
The treasurer noted, though, that a monthly survey of business conditions shows a potential for economic contraction and a separate study that includes Oklahoma housing permits and initial unemployment claims should be watched closely.
McDaniel said revenue includes sales, personal and corporate income taxes; oil and gas production taxes; motor vehicle taxes; and taxes on fuel, tobacco, and alcoholic beverages.