Oklahoma: Oil & gasoline receipts down 35%, marijuana up 60%

That informs you one thing in regards to the globe we’re moving into…..

OKLAHOMA CITY (KOKH) – January Gross Receipts dropped by very nearly 6% when compared with month-to-month collections from January of this past year within the biggest revenue that is one-month in eight months.

Collections from all sources in total $1.19 billion, down by $72.1 million.

“Oklahomans january have actually demonstrated strength that is remarkable resiliency during the past year, but the state economy is clearly not immune to the fiscal impact caused by the pandemic,” Treasurer McDaniel said. “Even so, we continue to anticipate recovery as public health improves and economic activity increases.”

Collections from the production that is gross on crude oil and gas has dropped by almost 35% through the thirty days.

Combined product sales and make use of taxation receipts rose above previous collections by $8.1 million.(* year) https://oklahoman.com/article/5661717/oklahoma-cannabis-industry-smashes-record-monthly-sales-number-in-april

January collections

  • Total January 2021 gross collections are $1.19 billion, down $72.1 million, or 5.7%.
  • Gross income tax collections, a combination of individual and income that is corporate, produced $432.4 million, down by $37.9 million, or 8%.
  • Individual tax collections are $381.5 million, a decrease of $30.8 million, or 7.5%.
  • Corporate collections are $50.9 million, down by $7 million, or 12.2%.
  • Combined product sales and make use of taxation collections, including remittances with respect to towns and cities and counties, total $506.4 million – up by $8.1 million, or 1.6%.
  • Sales income tax collections total $415.1 million, a decrease of $156,089, or 0.04%.
  • Use taxation receipts, accumulated on out-of-state acquisitions including sales that are internet generated $91.2 million, an increase of $8.3 million, or 9.9%.
  • Gross production taxes on oil and gas that is natural $57.5 million, a decrease of $30.8 million, or 34.9%.
  • Motor vehicle fees produced $64.5 million, down by $1.5 million, or 2.3%.
  • Other collections made up of some 60 various sources including fees on gas, tobacco, medical cannabis, and alcohol consumption, produced $126.2 million – down by ten dollars million, or 7.3%.
  • The medical cannabis taxation produced $5.2 million, up by $2 million, or 59.7%.

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