November 10, 2022
By News Director Jared Atha
The latest sales tax collection numbers are in for Oklahoma and once again one local community is sitting in the black when compared to a year ago by collecting over $1 million.
According to numbers provided by the Oklahoma Tax Commission, the November report showed that the City of Elk City collected over $1.1 million, a 2.9% increase when compared to last year.
However fellow I-40 municipalities showed a decrease when compared to a year ago with Clinton seeing a 6.7% dip by collecting just under $550,000 and Weatherford seeing a 0.8% decrease in sales tax collections when compared to last year. Weatherford’s collections were still strong though, collecting just over $1,014,000 in sales tax revenue.
Communities with similar size saw Woodward collect just under $1,020,000 – a 7.4% increase and Altus collecting just over $1,042,000 – a 4.7% decrease.
Smaller communities in the area had Sayre see a 15% decrease in collections while Cordell saw an 8.6% increase.
Statewide, according to state Treasurer Randy McDaniel oil and gas production taxes were up by 92% from October of 2021 to October of 2022 as compared to the previous 12-month period, the largest percentage growth of all of the state’s revenue sources.
Gross sales tax receipts for Oklahoma totaled $5.75 billion, up by $566.2 million, or 10.9%.
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