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Wednesday, December 4, 2024

Oklahoma's miscellaneous tax revenues down 39% since Q2 2023

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

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

Oklahoma collected $308 million in miscellaneous tax revenue during the second quarter of 2023, a 39% decrease from the same period the previous year when $505 million was reported, according to the U.S. Census Bureau's Quarterly Summary of State and Local Taxes.

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 2023 Oklahoma Tax Collections

Type of TaxAmount (millions)
Sales and Gross Receipts Taxes$1,467
Income Taxes$1,679
License Taxes$259
Miscellaneous Taxes$308

Source: U.S. Census Bureau

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