Quantcast

Sooner State News

Thursday, November 21, 2024

Oklahoma's combined tax revenues down 14.6% from Q2 to Q3 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 decreased 14.6% in the third 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 $3.2 billion in taxes during the third quarter of 2023, compared to $3.7 billion in the previous quarter.

The majority of the state’s tax revenue was collected through general sales and gross receipts taxes ($1.4 billion) and income taxes ($1.2 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.

Q3 Oklahoma Tax Collections
Type of TaxAmount (millions)
Sales and Gross Receipts Taxes$1,392
Income Taxes$1,241
Other Taxes$297
License Taxes$242
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