The coronavirus and energy prices continue to take a heavy toll on state revenues.

State Treasurer Randy McDaniel showed a 14 percent drop in May revenue collections.

Gross receipts for May total $923.1 million, down by $150.5 million from May of last year.

“The Oklahoma economy, as reflected in state revenue collections, was significantly impacted by the pandemic during the month,” McDaniel said. “However, the picture in May is not as conspicuous as the April report, which included the postponement until July of income tax reporting.”

McDaniel pointed to a few positive numbers in the May report. Of the six major revenue sources tracked in gross receipts, two showed positive movement. Use tax, paid on out-of-state purchases including online, and individual income tax were both slightly higher than receipts from the prior year by a combined total of $13 million.

On the other hand, sales tax and gross production receipts were substantially lower by a combined total of $106.1 million.

Sales tax receipts, including remittances on behalf of cities and counties, fell by more than 12 percent over the year. Gross production collections were down by almost 60 percent compared to last May.

May gross production tax receipts are paid on crude oil and natural gas production during March, when the price per barrel of West Texas Intermediate Crude Oil at Cushing averaged $29.21. One year ago, the average price was $58.15 per barrel. Meanwhile, natural gas prices fell by almost 40 percent over the year.

Total receipts from the past 12 months are $13.07 billion, off by $477.1 million, or 3.5 percent, compared to the previous 12 months. Shrinking income, sales and gross production tax collections exhibited the most downward pressure during the period.

Gross revenue totals $13.07 billion from the past 12 months, June 2019 through May 2020. That is $477.1 million, or 3.5 percent, below collections from the previous 12-month period.

The unemployment rate in Oklahoma was reported as 13.7 percent in April, up from 2.9 percent in March. The seasonally adjusted number of Oklahomans listed as jobless increased by 188,950 in one month, according to figures released by the Oklahoma Employment Security Commission. The U.S. unemployment rate was 14.7 percent in April.