Tax revenues for the State of Oklahoma are down for the month of August but long-term trends appear to be holding steady.

 

State Treasurer Todd Russ released the most recent tax receipts yesterday that showed a 17% month-over-month drop in income tax revenues. However, that number was 5% more than in 2024. Other indicators that also fell in August include oil and gas taxes that were down 32% from July and motor vehicle taxes that declined by 9%. Total tax collections over the past 12 months reached $16.97 billion, up very slightly from the previous year.

 

Unemployment in Oklahoma is 3.1%, coming in well below the national 4.2% rate.

 

Russ attributes the drop to a seasonal slowdown and noted that Oklahoma's finances remain well-positioned for the fall and winter.

 

The complete August 2025 tax report can be viewed at this link.