• Contact
Thursday, September 4, 2025
  • Login
Oklahoma Business Voice
  • Home
  • News
    • All
    • Aerospace
    • Childcare
    • Education
    • Energy & Environment
    • Federal
    • Film & Television Industry
    • Finance
    • Health Care
    • Innovation
    • Issues Affecting Oklahomans
    • OBV One-on-One
    • Opinion
    • Politics & Elections
    • Taxes & Budget
    • Tribal
    • Workforce Development
    New Website “Oklahoma Decides” Aims to Be Go-To Source for Election Candidate Info

    New Website “Oklahoma Decides” Aims to Be Go-To Source for Election Candidate Info

    Oklahoma Approves $60M in Airport Upgrades and Aerospace Education Funding

    Oklahoma Approves $60M in Airport Upgrades and Aerospace Education Funding

    “Future of Learning” on full display at Broken Arrow Academy 

    “Future of Learning” on full display at Broken Arrow Academy 

    Innovation District Awards $291,000 in Grants to Boost STEM Education in Oklahoma City

    Innovation District Awards $291,000 in Grants to Boost STEM Education in Oklahoma City

  • Sign UpNEW
  • About
  • Contact
  • Advertise With Us!
No Result
View All Result
  • Home
  • News
    • All
    • Aerospace
    • Childcare
    • Education
    • Energy & Environment
    • Federal
    • Film & Television Industry
    • Finance
    • Health Care
    • Innovation
    • Issues Affecting Oklahomans
    • OBV One-on-One
    • Opinion
    • Politics & Elections
    • Taxes & Budget
    • Tribal
    • Workforce Development
    New Website “Oklahoma Decides” Aims to Be Go-To Source for Election Candidate Info

    New Website “Oklahoma Decides” Aims to Be Go-To Source for Election Candidate Info

    Oklahoma Approves $60M in Airport Upgrades and Aerospace Education Funding

    Oklahoma Approves $60M in Airport Upgrades and Aerospace Education Funding

    “Future of Learning” on full display at Broken Arrow Academy 

    “Future of Learning” on full display at Broken Arrow Academy 

    Innovation District Awards $291,000 in Grants to Boost STEM Education in Oklahoma City

    Innovation District Awards $291,000 in Grants to Boost STEM Education in Oklahoma City

  • Sign UpNEW
  • About
  • Contact
  • Advertise With Us!
No Result
View All Result
Oklahoma Business Voice
No Result
View All Result
Home News
Oklahoma gross receipts taper off in May

Oklahoma gross receipts fall behind previous year’s 12-month revenue for first time in over 2 years

Hicham Raache by Hicham Raache
November 10, 2023
in News, Taxes & Budget
Reading Time: 4 mins read
Share on FacebookShare on Twitter

OKLAHOMA (OBV) – Oklahoma’s 12-month gross receipt collection for October came in slightly below the previous year’s revenue, marking the first time in over two years that receipts to the Treasury fell below the prior year’s 12-month revenue.

Gross receipts for the last 12 months came in at $17.07 billion – $167 million less than the 12-month revenue from last October.

Reduced oil and gas revenue caused the 1 percent decline, according to Oklahoma State Treasurer Todd Russ.

“October marks the first time since March 2021 that receipts to the Treasury fell below the prior year’s 12-month revenue as expected,” Russ’ report states.

The state’s gross production tax revenue fell more than $484 million over the last 12 months, a more than 25 percent decline for the year.

October’s revenues from all sources amounted to $1.4 billion, down $73.8 million (5 percent) compared to last October, which was anticipated based on recent monthly trends, according to Russ’ office.

Gross receipt collections for October are also lower than the previous month’s collection with a $72 million (4.9 percent) decline.

October 2023 gross receipt collections compared to October 2022 gross receipts are as follows:

  • Total monthly gross collections were $1.4 billion, down by $73.8 million (5 percent).
  • Gross income tax collections, a combination of individual and corporate income taxes, generated $495.8 million, an increase of $1.3 million (0.3 percent).
    • Individual income tax collections totaled $463.8 million, up by $13.3 million (2.9 percent).
    • Corporate taxes are $32 million, down by $12 million (27.2 percent).
  • Combined sales and use tax collections – including remittances on behalf of cities and counties – totaled $590.3 million, an increase of $16.4 million (2.9 percent).
    • Sales tax revenues were $498.6 million, up by $9.6 million (2 percent).
    • Use tax receipts, collected on out-of-state purchases including internet sales, generated $91.7 million, up by $6.8 million (8 percent). 
  • Gross production taxes on oil and natural gas totaled $99.8 million, a decrease of $97.9 million (49.5 percent).
  • Motor vehicle taxes produced $71 million, a decrease of $4.2 million (6.3 percent).
  • Other collections, composed of 60 different sources, produced $146.8 million, an increase of $2.2 million (1.5 percent).


Twelve-month gross receipts as of October compared to last year at the same point are as follows:

  • Gross revenue totals $17.07 billion, $167.88 million (1 percent) below collections from the previous 12 months.
  • Gross income taxes generated $6 billion, an increase of $8.2 million (0.1 percent).
    • Individual income tax collections totaled $5.07 billion, up by $101.6 million (2 percent).
    • Corporate collections were $942.2 million, down by $93.4 million (9 percent).
  • Combined sales and use taxes produced $7.1 billion, an increase of $331.7 million (4.9 percent).
    • Gross sales tax receipts totaled $5.99 billion, up by $238.2 million (4.1 percent).
    • Use tax collections generated $1.1 billion, an increase of $93.4 million (9.1 percent).
  • Oil and gas gross production tax collections were $1.42 billion, a decrease of $484.1 million (25.4 percent).
  • Motor vehicle collections totaled $880.5 million, up by $6 million (0.7 percent).
  • Other sources generated $1.64 billion, down by $29.4 million (1.8 percent).


The monthly gross receipts report provides a broad look at the state’s economy.

Less than half of the state’s gross receipts go to the General Revenue Fund, which is the state’s main operating account. The remainder is apportioned to other state funds, remitted to cities and counties and paid in rebates and refunds.

The Oklahoma Treasurer’s Office report included indicators that factored into the gross receipts. Those indicators are as follows:

  • Oklahoma’s unemployment rose again in September, hitting 3 percent. It was 2.8 percent in August. The national unemployment rate remained at 3.8 percent in September.
  • The annual inflation rate rose to 3.7 percent in September, according to Consumer Price Index measurements reported by the U.S. Bureau of Labor Statistics. The index’s energy component continued showing a decline, falling 0.5 percent, but the food index was parallel with the inflation rate, ending September at 3.7 percent.
  • The Oklahoma Business Conditions Index remained above growth neutral in October, the second consecutive month. The October index was set at 53.0, compared to September 53.7. Numbers over 50 suggest economic expansion in the next three to six months.
Tags: Gross ReceiptsOklahomaOklahoma State Treasurer's OfficeState Treasurer Todd Russ
ShareTweetShare
Previous Post

Michelin rep says Oklahoma factory to close because facility lacks assets to meet tire production demands

Next Post

OESC providing career services for Oklahoma veterans, military service members

Related Posts

New Website “Oklahoma Decides” Aims to Be Go-To Source for Election Candidate Info
News

New Website “Oklahoma Decides” Aims to Be Go-To Source for Election Candidate Info

September 4, 2025
Oklahoma Approves $60M in Airport Upgrades and Aerospace Education Funding
Aerospace

Oklahoma Approves $60M in Airport Upgrades and Aerospace Education Funding

August 27, 2025
“Future of Learning” on full display at Broken Arrow Academy 
Education

“Future of Learning” on full display at Broken Arrow Academy 

August 28, 2025
Innovation District Awards $291,000 in Grants to Boost STEM Education in Oklahoma City
Education

Innovation District Awards $291,000 in Grants to Boost STEM Education in Oklahoma City

August 21, 2025
Startup OU Idea Accelerator Graduates First Cohort, Boosting Oklahoma’s Entrepreneurial Pipeline
Innovation

Startup OU Idea Accelerator Graduates First Cohort, Boosting Oklahoma’s Entrepreneurial Pipeline

August 21, 2025
Major Legal Reform makes Oklahoma “Open for Business”
News

Major Legal Reform makes Oklahoma “Open for Business”

August 21, 2025
Next Post
Soldier and civilian shaking hands on white background, closeup

OESC providing career services for Oklahoma veterans, military service members

Oklahoma Business Voice

© 2023 Oklahoma State Chamber.
Powered by High Five Media.
Privacy Policy

Navigate Site

  • Home
  • News
  • Sign Up
  • About
  • Contact
  • Advertise With Us!

Follow Us

Welcome Back!

Login to your account below

Forgotten Password?

Retrieve your password

Please enter your username or email address to reset your password.

Log In
No Result
View All Result
  • Home
  • News
  • Sign Up
  • About
  • Contact
  • Advertise With Us!

© 2023 Oklahoma State Chamber.
Powered by High Five Media.
Privacy Policy

This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy and Cookie Policy.