Oklahoma- OKC Expects Sharp Drop in Sales Tax Receipts APRIL 30, 2020

In the last report before the COVID-19 economic crash, the April sales and use tax summary shows combined General Fund collections in Oklahoma City were slightly above the monthly projection and increased compared to the same month last year.

The April report includes tax collections for the last half of February and estimated collections in the first half of March. April is the 10th month of fiscal year 2020.

The Finance Department estimates sales tax checks for the last two months of the fiscal year ending June 30 could be down about 25% compared to the same months last year because of the global economic crisis. General Fund revenue for fiscal year 2021, which begins July 1, are expected to decline by about $35 million.

For more information: TheJournalRecord

The journal record
April 30, 2020