MuskogeePhoenix.com, Muskogee, OK

October 3, 2013

Treasurer reports 12-month revenues at $11.3B high


Associated Press

— OKLAHOMA CITY (AP) — State Treasurer Ken Miller says 12-month collections to the state treasury topped a new high at $11.3 billion last month, an indication the economy is continuing to expand.

Miller says overall collections for personal income, sales and oil and natural gas taxes increased over the 12-month period, while corporate income and motor vehicle taxes declined. September gross collections totaled $1 billion, a 2 percent increase from September 2012.

It was the third consecutive month that 12-month collections reached a high.

But Miller, an economist, also warned that the partial government shutdown could have a negative impact on the state’s economy. He said an even greater concern is the insistence of politicians in Washington to play “Russian roulette with the nation’s debt ceiling.”