State Income Continues to Shrink

State Income Continues to Shrink

Posted by Bob Sands on

OKLAHOMA CITY (AP) - Oklahoma's treasurer says gross receipts to the state treasury in 2015 were less than the prior calendar year, the first time that has happened since the end of the Great Recession in 2009.
    
Treasurer Ken Miller said Thursday that annual receipts fell by 3 percent compared to the 2014 calendar year to $11.65 billion.
    
Annual receipts to the state treasury grew between 2.5 percent and 9.6 percent between 2010 and 2014. In 2009, collections shrank by 15.9 percent compared to 2008.
    
Gross receipts in December totaled $948.9 million, down by more than $93 million from December 2014. It was the smallest December bottom line since 2010. Collections from oil and natural gas production in December were almost 48 percent lower than December 2014.

(Copyright 2016 The Associated Press. All rights reserved)

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