Oklahoma: Oil & gasoline receipts down 35%, marijuana up 60%

That lets you know one thing in regards to the globe we’re moving into…..

OKLAHOMA CITY (KOKH) – January Gross Receipts dropped by nearly 6% in comparison to month-to-month collections from January of a year ago within the biggest revenue that is one-month in eight months.

Collections from all sources in total $1.19 billion, down by $72.1 million.

“Oklahomans january have actually demonstrated remarkable power and resiliency in the past 12 months, nevertheless the state economy is actually perhaps not resistant to your financial effect due to the pandemic,” Treasurer McDaniel stated. “Even so, we continue steadily to anticipate data recovery as general public health improves and activity that is economic.”

Collections from the production that is gross on crude oil and propane has dropped by almost 35% through the thirty days.

Combined product sales and make use of taxation receipts rose above previous collections by $8.1 million.(* year) https://oklahoman.com/article/5661717/oklahoma-cannabis-industry-smashes-record-monthly-sales-number-in-april

January collections

  • Total January 2021 gross collections are $1.19 billion, down $72.1 million, or 5.7%.
  • Gross income tax collections, a combination of individual and income that is corporate, created $432.4 million, down by $37.9 million, or 8%.
  • Individual tax collections are $381.5 million, a decrease of $30.8 million, or 7.5%.
  • Corporate collections are $50.9 million, down by $7 million, or 12.2%.
  • Combined product sales and make use of taxation collections, including remittances with respect to urban centers and counties, total $506.4 million – up by $8.1 million, or 1.6%.
  • Sales income tax collections total $415.1 million, a decrease of $156,089, or 0.04%.
  • Use taxation receipts, gathered on out-of-state acquisitions including sales that are internet generated $91.2 million, an increase of $8.3 million, or 9.9%.
  • Gross production taxes on oil and gas that is natural $57.5 million, a decrease of $30.8 million, or 34.9%.
  • Motor vehicle fees produced $64.5 million, down by $1.5 million, or 2.3%.
  • Other collections made up of some 60 various sources including fees on gas, tobacco, medical cannabis, and alcohol based drinks, produced $126.2 million – down by ten dollars million, or 7.3%.
  • The medical cannabis taxation produced $5.2 million, up by $2 million, or 59.7%.

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