
Budget & Tax
Curtis Shelton | December 12, 2018
A look at November 2018 revenue collections
Curtis Shelton
The Oklahoma State Treasurer released the monthly report for November 2018 revenue collections. The report shows Total Gross Receipts collected in November were $1.03 billion—a 15.7 percent, or $140 million, increase for the same month from the prior year. Twelve-month gross receipts total $12.8 billion, a record high.

New revenue from House Bill 1010xx amounted to $61.6 million, or 44 percent, of the total growth for the month. The change in the gross production tax from 2 percent to 5 percent brought in the largest amount of new revenue at $37.8 million. The $1 increase in a pack of cigarettes brought in $13.6 million, while the six-cent increase in the diesel fuel tax brought in the smallest amount at $10.1 million.

Of the four major tax sources, the gross production tax saw the largest percentage increase year-to-year at 125.3 percent. The income tax saw the smallest increase at 0.3 percent.

Curtis Shelton
Policy Research Fellow
Curtis Shelton currently serves as a policy research fellow for OCPA with a focus on fiscal policy. Curtis graduated Oklahoma State University in 2016 with a Bachelors of Arts in Finance. Previously, he served as a summer intern at OCPA and spent time as a staff accountant for Sutherland Global Services.