Oklahoma State Revenue Tax Receipts Slide With Oil Price Drop

NewsOK.com RSS - news >> politics, Daily Oklahoman: Politics
Thu, 09/03/2015 - 6:33pm

By RICK M. GREEN Capitol Bureau rmgreen@oklahoman.comFor the fourth consecutive month, tax receipts were down along with the price of oil. Gross receipts in August dropped 3.5 percent below the same month last year as collections from oil and natural gas were lower. “If there is good news in the August gross receipts report, it's that the oil price decline hasn't yet erased all of the economic gains of the past year,” state Treasurer Ken Miller said Thursday. Oil and natural gas collections are likely to get worse before they get better. That's because the collections in the current report are from oil-field activity in June when oil prices were higher than they are now. In June, the average price of West Texas Intermediate crude oil was $59.82 per barrel.Read more on NewsOK.com

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