Another down month for state tax collections on oil and gas


The old saying for a winning poker hand is “read ’em and weep” but state officials in Oklahoma are on the losing side as tax collections are down and revenue on the oil and gas gross production taxes plunged badly in May.

General Revenue Fund collections were down 15% from a year ago. But gross production tax collections dropped 61% below those of May 2019. Oil collections fell 61% below the estimate and 53% below May of last year.

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