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Oklahoma's May Tax Revenues Trail Projections

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State finance officials say revenue collections to Oklahoma's main operating fund for state government trailed projections by nearly 10 percent last month, mostly because of huge decreases from oil and gas production taxes.

The Office of Management and Enterprise Services reported Tuesday that collections to the General Revenue Fund totaled nearly $403 million, which is 9.8 percent below the official projection. It was also more than 10 percent below collections from the same month last year.

The figures show gross production taxes on oil and natural gas were 68.8 percent below the estimate and 72 percent below the prior year.

Total income tax collections exceeded both the official estimate and prior year collections, but sales and motor vehicle taxes were considerably lower than both the estimate and the previous year.


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