Oklahoma revenue collections fall $502.5M due to coronavirus
May 8, 2020
OKLAHOMA CITY (AP) — Revenue collections in Oklahoma fell by half a billion dollars in April from a year ago as an economic slowdown caused by the coronavirus pandemic swept the state, Treasurer Randy McDaniel said Thursday.
Gross receipts fell $502.5 million to just under $1.1 billion, down 31.8% from April 2019, McDaniel said.
Income tax collections fell by 50.5% to $405.8 million. McDaniel noted that the filing deadline for income taxes was postponed from April 15 until July 15 because of the pandemic.
Gross production taxes on the sale of oil and natural gas totaled $60.7 million, do...