December Revenue in Oklahoma Tops Estimate On Gross Production Taxes

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Thanks in large part to gross production taxes, Oklahoma's general revenue collections in December topped both last year and the official estimate, state Treasurer Scott Meacham said Tuesday. Total collections for the month amounted to $567.4 million, which was $37.7 million or 7.1 percent above the same month last year, and $56.2 million or 11 percent above the estimate.

"We are building a comfortable cushion as we head into the new year, while most of the rest of the nation is being forced to take drastic cutbacks in essential government services as their economies suffer the effects of the global recession," Meacham said.

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December Revenue in Oklahoma Tops Estimate On Gross Production Taxes

Gross production taxes on oil and natural gas are up about 75 percent for the month, ...

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