As expected, state tax revenues soared in September in the first full month’s impact of the largest tax increase in Oklahoma history.

Revenues jumped by 14 percent compared to September of 2017. The $1,200,000,000.00 collected was the highest total ever in the history of the state for that month. The $12,500,000,000.00 for the past 12 months also set a record for the highest totals.

“Oklahoma’s economy continues to climb the expansion side of the business cycle,” State Treasurer Ken Miller said. “As we saw last week with the ratings outlook upgrade from negative to stable by Moody’s Investors Service, the state’s economic and policy improvements are being noticed well beyond our borders.”

Every category of taxation, from oil and natural gas (up 110 percent) to motor vehicles (up only .1 percent), rose in the record-breaking month.

The 2018 tax increases added $48,700,000.00 to the state, accounting for 4.2 percent of the September total.

The biggest share, $31,200,00.00, came from the increase from 3 percent to 5 percent in the incentive tax rate on oil and natural gas gross production.

Raising the tax on gasoline and diesel fuel generated $8,300,000.00, and the $1 per pack hike in cigarette taxes added $9,300,000.00.

Gross income tax collections generated $410,000,000.00, an increase of $42,000,000.00, or 11.4 percent, from the previous September.

 Individual income tax collections for the month are $320,300,000.00, up by $22,900,000.00 million, or 7.7 percent, from the prior year. Corporate collections are $89,700,000.00, an increase of $19,100,000.00 or 27.1 percent.

Sales tax collections total $409,400,000.00 in September. That is $25,300,000.00 or 6.6 percent, more than September 2017. Gross production taxes on oil and natural gas generated $105,300,000.00 in September, an increase of $55,200,000.00, or 110 percent, from last September.

Motor vehicle taxes produced $60,000,000.00, up by $35,012, or 0.1 percent, from the same month of 2017.

Other collections brought in $168,600,000.00 during the month, which is $18,900,000.00 or 12.7 percent, more than last September.

Gross revenue totals $12,500,000,000.00 from the past 12 months. That is $1,400,000,000.00, or 12.4 percent, more than collections from the previous 12 months.