The monthly Gross Receipts to the Treasury report, developed by the State Treasurer’s Office, provides a timely and broad view of the state’s economy. Other sources generated $1.7 billion, down by $13.5 million, or 0.8 percent.Motor vehicle collections total $875.7 million, an increase of $3.0 million, or 0.3 percent.Oil and gas gross production tax collections generated almost $2.0 billion, up by $747.2 million, or 59.9 percent.Use tax collections generated $1.0 billion, an increase of $115.8 million, or 12.3 percent.Gross sales tax receipts total $5.8 billion, up by $428.5 million, or 7.9 percent.Combined sales and use taxes generated $6.9 billion, an increase of $544.3 million, or 8.6 percent.Corporate collections are $1.0 billion, an increase of $113.2 million, or 12.8 percent.Individual income tax collections total $5.0 billion, up by $587.3 million, or 13.2 percent.Gross income taxes generated $6.0 billion, an increase of $700.5 million, or 13.1 percent.That is $1.98 billion, or 12.8 percent, above collections from the previous 12 months. Other collections composed of some 60 different sources produced $141.8 million – down by $3.7 million, or 2.5 percent.Ĭombined gross receipts for the past 12 months compared to the prior period show:.Motor vehicle taxes produced $74.1 million, up by $5.4 million, or 7.8 percent.Gross production taxes on oil and natural gas total $153.1 million, an increase of $9.6 million, or 6.7 percent.Use tax receipts, collected on out-of-state purchases including internet sales, generated $114.2 million, an increase of $10.3 million, or 9.9 percent.Sales tax collections total $515.2 million, an increase of $21.9 million, or 4.4 percent.Combined sales and use tax collections, including remittances on behalf of cities and counties, total $629.4 million – up by $32.3 million – or 5.4 percent.Corporate collections are $68.2 million, down by $38.9 million, or 36.4 percent.Individual income tax collections are $482.2 million, an increase of $35.9 million, or 8.0 percent.Gross income tax collections, a combination of individual and corporate income taxes, generated $550.4 million, down by $3.1 million, or 0.6 percent.Total monthly gross collections are $1.55 billion, up by $40.5 million, or 2.7 percent.January 2023 collections compared to gross receipts from January 2022 show: Thereafter, 30-year mortgage rates have declined to approximately 6 percent, but the relatively high rates coupled with higher housing prices have caused a drop in housing demand. jobless rate was 3.5 percent in December, down by one-tenth of a percentage point from November.Īccording to Federal Reserve Economic Data from 2022, average mortgage rates doubled from 3.5 percent to 7 percent during the beginning of last year through October. This rate has not changed since September.
The Oklahoma unemployment rate in December stayed at 3.4 percent, as reported by the BLS.
Oklahoma’s employment numbers continue to exhibit strength, despite changes in workforce trends. The energy component of the index at 7.3 percent over the year is expected to remain high, along with the food index which stands at 10.4 percent. Bureau of Labor Statistics (BLS) reports the annual inflation rate at 6.5 percent in December. As measured by the Consumer Price Index, the U.S.
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