![A look at the October 2018 economic report](https://oklahoma-council.transforms.svdcdn.com/production/assets/img/Ken-Miller.jpg?w=768&auto=compress%2Cformat&fit=crop&dm=1644340813&s=a9b086947c81bad15950bef628ac2aed)
Budget & Tax
Curtis Shelton | November 7, 2018
A look at the October 2018 economic report
Curtis Shelton
The Oklahoma State Treasurer released the monthly report for October revenue collections. Total Gross Receipts collected in October were $1,138.5 million—up 16.1 percent, or $158.3 million, from the same month last year. This sets a record for collections in the month of October. Fiscal year 2019 has been a year of records thus far, with each of the first four months setting record highs for monthly collections.
![Fiscal Year 2018 vs. Fiscal Year 2019 Total Gross Receipts Fiscal Year 2018 vs. Fiscal Year 2019 Total Gross Receipts](https://oklahoma-council.transforms.svdcdn.com/production/assets/img/Fiscal-Year-2018-vs.-Fiscal-Year-2019-Total-Gross-Receipts_181105_212346.jpg?w=1871&h=689&auto=compress%2Cformat&fit=crop&dm=1644340970&s=444cb4f9886ac7250b72eacdd21e6e0a)
New revenue from House Bill 1010xx amounted to $55.3 million, or 35 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 $30.8 million. The $1.00 increase in a pack of cigarettes brought in $13.2 million, while the six-cent increase in the diesel fuel tax brought in the smallest amount at $11.3 million.
![](https://oklahoma-council.transforms.svdcdn.com/production/assets/img/Change-in-Total-Gross-Receipts-Legislative-Changes-vs.-Economic-Growth.jpg?w=1783&h=573&auto=compress%2Cformat&fit=crop&dm=1644340409&s=1d5ec61d3ecff5316085aa5a1ae0956a)
Of the four major tax sources, the gross production tax saw the largest percentage increase year-to-year at 96 percent. The motor vehicle tax saw the smallest increase at 3.2 percent.
![Curtis Shelton Policy Research Fellow](https://oklahoma-council.transforms.svdcdn.com/production/assets/img/Author-Headshots-05.png?w=300&auto=compress%2Cformat&fit=crop&dm=1644340332&s=96cc21b17ec933317ee1f51adaa06be7)
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.