The Norman Transcript


February 6, 2013

January gross receipts make history



January collections: The revenue report for January shows gross collections at $1.009 billion, up $13.45 million, or 1.4 percent, from January 2012.

Gross income tax collections, a combination of personal and corporate income taxes, generated $401.64 million, an increase of $25.67 million, or 6.8 percent, from the previous January.

Personal income tax collections for the month are $363.89 million, up $25.93 million, or 7.7 percent, from the prior year. Corporate collections are $37.75 million, a decrease of $261,000, or 0.7 percent.

Sales tax collections, including remittances on behalf of cities and counties, total $365.29 million in January. That is $3.3 million, or 0.9 percent, above January 2012.

Gross production taxes on oil and natural gas generated $58.05 million in January, a decrease of $10.72 million, or 15.6 percent, from last January. Compared to December reports, gross production collections are down by $2.12 million, or 3.5 percent.

Motor vehicle taxes produced $55.9 million, up by $581,000, or 1 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 $128.43 million during the month, $5.38 million, or 4 percent, less than last January.

Twelve-month collections: Between February 2012 and January 2013, gross revenue totaled $11.1 billion, or $340.73 million — 3.2 percent — higher than collections from the previous 12-month period.

Gross income taxes generated $3.985 billion for the year, reflecting an increase of $241.92 million, or 6.5 percent, from the prior 12 months.

Personal income tax collections total $3.397 billion, up by $180.02 million, or 5.6 percent, from the February 2011 to January 2012 period. Corporate collections were $588.72 million for the period, an increase of $61.9 million, or 11.7 percent, over the previous period.

Sales taxes for the period generated $4.179 billion, an increase of $304.5 million, or 7.9 percent, from the prior 12 months.

Oil and gas gross production tax collections brought in $717.32 million during the 12 months, down by $314.33 million, or 30.5 percent, from the previous period.

Motor vehicle collections totaled $702.47 million for the period, an increase of $38.26 million, or 5.8 percent, from the trailing 12 months.

Other sources generated $1.517 billion, up $70.39 million, or 4.9 percent, from the previous 12 months.

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