Oklahoma treasury takes in $150.5 million less in May

OKLAHOMA CITY (AP) — Oklahoma’s treasury took in $150.5 million less this May when compared with the same month last year. Treasurer Randy McDaniel said gross receipts to the treasury in May were $923.1 million, a 14.1% drop from last year. That follows a 30% drop in April.

The Tulsa World reports that McDaniel attributed the April drop to the postponement of the annual income tax deadline to July 15. Income taxes and sales tax are by far the state’s two leading revenue sources.

McDaniel says the May numbers show that the state economy “was significantly impacted” by the coronavirus pandemic during that month.