Oklahoma revenue collections up due to delayed tax deadline

Oklahoma

OKLAHOMA CITY (AP) — Oklahoma State Treasurer Randy McDaniel says revenue collections rose by more than 27% in July due to a delay in the state income tax filing deadline because of the coronavirus.

But McDaniel says that wasn’t enough to offset previous shortfalls.

The state collected $1.43 billion during the first month of the fiscal year.

McDaniel says individual and corporate income tax collections were $699.5 million, or an increase of $360.5 million from July 2019, but short of a $414.4 million drop in April income tax revenue.

The tax deadline was delayed from April to July because of the coronavirus pandemic.

Copyright 2021 Nexstar Inc. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.

Video Forecast

More Forecast

Don't Miss