Oklahoma revenue down 3.8% amid coronavirus pandemic
OKLAHOMA CITY (AP) — Oklahoma revenue collections for calendar year 2020 declined by 3.8% as the coronavirus pandemic swept across the state, state Treasurer Randy McDaniel said Friday.
The state collected nearly $13.2 billion in taxes and fees for the year, $520.9 million less than during calendar year 2019.
“The state’s economy declined in 2020," McDaniel said in a statement. "Hopefully, we will see improvement in the months ahead as the (coronavirus) vaccine becomes widely available.”
December collections of $1.16 billion were 0.4% below December 2019, an improvement from the 2% decline in year-to-year numbers reported in November, the treasurer reported.
Tax collections on hard-hit oil and gas production for the year fell the most, down $396.3 million, or 38.6%, to a total of $630.1 million.
The state health department on Thursday reported 315,354 total virus cases and 2,672 deaths since the pandemic began.
The seven-day rolling average of new cases in Oklahoma has risen from 3,478.43 per day on Dec. 24 to 3,488.29, according to data from Johns Hopkins University. The data ranks Oklahoma seventh in the nation in new cases per capita with 1,072.7 per 100,000, down from 1,096.5 per 100,000 and the fourth highest rate in the nation reported Monday.