Sales tax collections, including remittances on behalf of cities and counties, total $384.1 million in October. That is $40.6 million, or 11.8 percent, more than October 2016.
Gross production taxes on oil and natural gas generated $52 million in October, an increase of $17 million, or 48.4 percent, from last October. Compared to September reports, gross production collections are up by $1.9 million, or 3.7 percent.
Motor vehicle taxes produced $63.9 million, up by $5.9 million, or 10.2 percent, from the same month of last year.
Other collections, consisting of about 60 different sources including use taxes, along with taxes on fuel, tobacco, and alcoholic beverages, produced $156.8 million during the month. That is $17.6 million, or 12.6 percent, more than last October.
Twelve-month collections
Gross revenue totals $11.2 billion from the past 12 months. That is $377.8 million, or 3.5 percent, more than collections from the previous 12 months.
Gross income taxes generated $4 billion for the November 2016-October 2017 period, reflecting a decrease of $16.5 million, or 0.4 percent, from the November 2015-October 2016 period.
Individual income tax collections total $3.6 billion, up by $48.5 million, or 1.4 percent, from the prior 12 months. Corporate collections are $397.6 million for the period, a decrease of $65 million, or 14 percent, over the previous period.
Sales taxes for the period generated $4.4 billion, an increase of $135 million, or 3.2 percent, from the prior year.
Oil and gas gross production tax collections brought in $501.7 million during the past 12 months, up by $157 million, or 45.6 percent, from the previous 12-month period.
Motor vehicle collections total $762 million for the period. This is an increase of $15.7 million, or 2.1 percent, from the trailing period.
Other sources generated $1.7 billion, up by $86.6 million, or 5.5 percent, from the previous 12 months.
About Gross Receipts to the Treasury
Since March 2011, the Office of the State Treasurer has issued the monthly Gross Receipts to the Treasury report, which provides a timely and broad view of the state’s macro economy.
It is provided in conjunction with the General Revenue Fund allocation report from the Office of Management and Enterprise Services (OMES), which provides important information to state agencies for budgetary planning purposes.
The General Revenue Fund receives less than half of the state’s gross receipts with the remainder paid in rebates and refunds, remitted to cities and counties, and placed into off-the-top earmarks to other state funds.
NOTE: This story is revised from its initial post last evening (Saturday), to include data left out to to an editing error.