Oklahoma income tax collections outperform expectations
BY MICHAEL McNUTT NewsOK.com
Tuesday, February 12, 2013
OKLAHOMA CITY - Rising income tax receipts helped lift state tax revenue collections in January to 10.2 percent more than the same month a year ago, state finance officials said Tuesday.
Income tax collections to the general revenue fund, the state's main operating fund, were $578.3 million in January, the highest monthly total for the first seven months of the current fiscal year. The amount is an increase of $53.4 million, or 10.2 percent, compared with last January.
Income tax collections are outperforming expectations by double digits through the first seven months of this fiscal year, which began July 1, said state Finance Secretary Preston Doerflinger.
“Sales taxes also are performing well,” he said. “These figures are evidence of continued economic expansion.”
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