Gross production tax revenue for the month of February in Oklahoma took a nearly 10% drop, according to the February Revenue report issued by the State Treasurer.
The tax revenue from oil and gas production was $87.4 million with a decline of 9.9% in the last year, reported Treasurer Todd Russ.
“February’s report reflects moderating revenue growth following December’s peak, with the rolling 12-month total remaining positive and reinforcing Oklahoma’s underlying fiscal stability,” said Russ.
– Revenue total of $17.23B for the last 12 months, an increase of $362M, or 2.2%, over the last year.
– Year over year monthly comparisons show an overall increase of $6.4M or 0.5%.
– Decrease in revenue of 22.5% over last month.
– Three tax sources increased over the last year:
– Total Sales and Use Tax of $506.8M up 0.9%,
– Motor Vehicle Tax of $72.7M up 20.1%,
– Other Tax Sources of $113.7M up 0.6%,
– Total Income Tax of $406.8M down 0.3% and
– Gross Production Tax of $87.4M down 9.9%.
| 12-Month Period End Comparison
Tax Revenue total of $17.23 billion, up $362.9 million or 2.2 percent. |
- Combined individual income tax and corporate income tax $6.7 billion, up $369.0 million or 5.8 percent.
- Individual tax of $5.8 billion, up $379.5 million or 7.0 percent.
- Corporate tax of $900.9 million, down $10.6 million or 1.2 percent.
- Combined sales tax and use tax–including city and county remittances–of $7 billion, down $400 thousand or 0.01 percent.
- Sales tax of $5.7 billion, down $68.8 million or 1.2 percent.
- Use tax, received on out-of-state and Internet purchases, of $1.3 billion, up $68.4 million or 5.6 percent.
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- Oil and gas gross production tax of $1.1 million, up $91.4 million or 9.2 percent.
- Motor vehicle tax of $888.8 million, down $23.5 million or 2.6 percent.
- Other sources, including 70 different revenues, of $1.6 billion, down $73.6 million or 4.5 percent.
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| Monthly Comparison
Tax Revenue total of $1.2 billion, up $6.4 million or 0.5 percent for February 2026 vs. 2025. |
- Income tax of $406.8 billion, down $1.1 million or 0.3 percent.
- Individual tax of $386.4 million, down $6.6 million or 1.7 percent.
- Corporate tax of $20.4 million, down $5.5 million or 36.7 percent.
- Sales and use tax of $506.8 million, up $4.3 million or 0.9 percent.
- Sales tax of $416.8 million, up $3.2 million or 0.8 percent.
- Use tax of $89.9 million, up $1.1 million or 1.3 percent.
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- Gross production taxes of $87.4 million, down $9.6 million or 9.9 percent.
- Motor vehicle taxes of $72.7 million, up $12.2 million or 20.1 percent.
- Other sources of $113.7 million, up $0.6 million or 0.6 percent.
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| Month-Over-Month Comparison
Tax revenue total of $1.2 billion, down $344.3 million or 22.5 percent from last month. |
- Decrease in income tax of $187.9 million or 31.6 percent.
- Decrease in sales and use tax of $135.2 million or 21.1 percent.
- Increase in gross production taxes of $2.3 million or 2.6 percent.
- Decrease in motor vehicle taxes of $1.0 million or 1.4 percent.
- Increase in other sources of $22.5 million or 16.5 percent.
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View full PDF report below.
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