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Oklahoma leads the nation in declining revenues

Oklahoma leads the nation in declining revenues

Officials say they hope the worst is over for Oklahoma

NewsOK

BY MICHAEL MCNUTT

Published: February 24, 2010

Oklahoma led the rest of the states in the rate of decline in tax collections for the last quarter of 2009, according to a report released

Oklahoma’s revenue collections dropped 24 percent for the last three months of 2009 compared with the same period a year earlier, according to the report by the Rockefeller Institute of Government.

Tax collection reports prepared by the state treasurer’s office showed revenue was off 27.8 percent during the period. It actually showed an improvement over the third quarter of 2009, when tax collections were 29.3 percent less than the same period in 2008, according to state figures.

The drop in revenue collections during the last quarter of 2009 isn’t as ominous as it might appear, state Treasurer Scott Meacham said... FULL ARTICLE

 

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