Post by pavel on Feb 6, 2016 4:36:09 GMT -6
Decline in state tax collections deepened in January, Oklahoma treasurer says
OKLAHOMA CITY — Gross receipts to the state treasury continued to fall far short of the previous year’s in January, increasing the possibility that spending will have to be trimmed further in the five months remaining in this budget year and in the one that begins July 1.
State Treasurer Ken Miller said January collections brought in $985.4 million, down by almost $150 million — more than 13 percent — from the same month a year ago.
It was the first double-digit percentage reduction drop in year-over-year monthly gross receipts since the Treasurer’s Office began tracking them in March 2010.
“The surplus-driven energy contraction continues to spill over into all of Oklahoma’s main revenue sources,” Miller said.
Read more: www.tulsaworld.com/news/capitol_report/decline-in-state-tax-collections-deepened-in-january-oklahoma-treasurer/article_9182526c-cbd4-510b-a028-a41dcbfa1854.html
OKLAHOMA CITY — Gross receipts to the state treasury continued to fall far short of the previous year’s in January, increasing the possibility that spending will have to be trimmed further in the five months remaining in this budget year and in the one that begins July 1.
State Treasurer Ken Miller said January collections brought in $985.4 million, down by almost $150 million — more than 13 percent — from the same month a year ago.
It was the first double-digit percentage reduction drop in year-over-year monthly gross receipts since the Treasurer’s Office began tracking them in March 2010.
“The surplus-driven energy contraction continues to spill over into all of Oklahoma’s main revenue sources,” Miller said.
Read more: www.tulsaworld.com/news/capitol_report/decline-in-state-tax-collections-deepened-in-january-oklahoma-treasurer/article_9182526c-cbd4-510b-a028-a41dcbfa1854.html