State Treasurer Todd Russ reported tax revenue in Oklahoma creased from March to April but figures showed another drop in the gross production tax on oil and gas.
Gross Production Tax or “GPT” totaled $1.2 billion and decreased $853.3M, or 43.2% from April 2023 to last month. The treasurer indicated receipts from all tax divisions increased 3% or $57.7 million reaching a total of $1.96b billion in April.
However, compared to a year ago, receipts from all the same divisions decided $584.6 million or 3.3% to $16.91 billion.
In contrast, sales and use tax increased 1.6%, total income tax increased 2.6% and motor vehicle tax increased3.2%.
