Quantcast

Sooner State News

Saturday, May 18, 2024

Oklahoma's combined tax revenues up 22.4% from Q1 to Q2 2023

Webp k9dhwfms4x050ou32v6q98qs2upk

Mark Wood tax Commissioner at Oklahoma Tax Commission | Oklahoma Tax Commission

Mark Wood tax Commissioner at Oklahoma Tax Commission | Oklahoma Tax Commission

Combined tax revenues in Oklahoma increased 22.4% in the second quarter of 2023 in comparison to the previous quarter, according to the U.S. Census Bureau’s Quarterly Summary of State and Local Taxes.

Overall, Oklahoma collected $3.7 billion in taxes during the second quarter of 2023, compared to $3 billion in the previous quarter.

The majority of the state’s tax revenue was collected through income taxes ($1.7 billion) and general sales and gross receipts taxes ($1.5 billion).

In addition to detailed tax revenue data from each state, the Quarterly Summary of State and Local Government Tax Revenue includes an estimate of state and local government tax revenue at a national level.

The Census Bureau cautions that it sets the tax classifications among the survey categories, and they may differ from the classifications set by the state governments.

Q2 Oklahoma Tax Collections
Type of TaxAmount (millions)
Income Taxes$1,679
Sales and Gross Receipts Taxes$1,467
Other Taxes$308
License Taxes$259
Source: U.S. Census Bureau

ORGANIZATIONS IN THIS STORY

!RECEIVE ALERTS

The next time we write about any of these orgs, we’ll email you a link to the story. You may edit your settings or unsubscribe at any time.
Sign-up

DONATE

Help support the Metric Media Foundation's mission to restore community based news.
Donate

MORE NEWS