Oklahoma collections drop $502.5 million due to virus impact

Oklahoma

Oklahoma Gov. Kevin Stitt speaks during a news conference Wednesday, May 6, 2020, in Oklahoma City. Stitt said that Oklahoma remains on pace to continue reopening business amid the coronavirus pandemic. (AP Photo/Sue Ogrocki)

OKLAHOMA CITY (AP) — Revenue collections in Oklahoma fell by a half billion dollars in April as business shutdowns and other factors due to the coronavirus pandemic swept the state.

State Treasurer Randy McDaniel said Thursday that gross receipts fell by $502.5 million to just under $1.1 billion.

That’s a drop of 31.8% from April 2019.

The biggest hit was a 50.5% drop in income tax collections.

McDaniel noted the filing deadline for income taxes was postponed from April 15 until July 15 because of the pandemic.

Some businesses have begun reopening under plans announced by Gov. Kevin Stitt.

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