The Norman Transcript

Government

March 5, 2013

Treasurer: Collections dipped in February

(Continued)

NORMAN —

February collections: The revenue report for February shows gross collections at $790.4 million, down $19.53 million — 2.4 percent — from February 2012.

Gross income tax collections, a combination of personal and corporate income taxes, generated $235.01 million, an increase of $3.2 million — 1.4 percent — from the previous February.

Personal income tax collections for the month are $229.3 million, up $5.03 million — 2.2 percent — from the prior year. Corporate collections are $5.71 million, a decrease of $1.83 million — 24.3 percent.

Sales tax collections, including remittances on behalf of cities and counties, total $333.24 million in February. That is $12.61 million — 3.9 percent — above February 2012.

Gross production taxes on oil and natural gas generated $63.17 million in February, a decrease of $5.99 million — 8.7 percent — from last February. Compared to January reports, gross production collections are up by $5.12 million — 8.8 percent.

Motor vehicle taxes produced $49.44 million, down by $5.25 million — 9.6 percent — from the prior year.

Other collections, consisting of about 60 different sources including taxes on fuel, tobacco, horse race gambling and alcoholic beverages, produced $109.55 million during the month. That is $24.09 million — 18 percent — less than last February.

Twelve-month collections: Between March 2012 and February 2013, gross revenue totaled $11.08 billion. That is $213.82 million — 2 percent — higher than collections from the previous 12-month period.

Gross income taxes generated $3.988 billion, reflecting an increase of $220.44 million — 5.9 percent — from the prior 12 months.

Personal income tax collections total $3.402 billion, up by $163.84 million — 5.1 percent — from the March 2011 to February 2012 period.

Sales taxes for the period generated $4.191 billion, an increase of $280.74 million — 7.2 percent — from the prior 12 months.

Oil and gas gross production tax collections brought in $711.32 million during the 12 months, down by $315.83 million — 30.7 percent — from the previous period.

Motor vehicle collections total $697.22 million for the period, an increase of $19.71 million — 2.9 percent — from the trailing 12 months.

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