State Revenue
Oklahoma is doing fine when it comes to revenue over expenses
Oklahoma's financial position
State revenue is stronger overall than in recent years. All tax revenue has performed much better than anticipated, and spending is down compared to the state's various revenue streams.
Agency and tax revenue in 2019 are at more than $44 billion, while expenses for agencies are at almost $29 billion.
The 2019 fiscal year ends June 30.
Revenues by Agency
State agencies have brought in more than $46 billion in 2019.
Expenses by Agency
Agency expenditures trail revenue by more than $3 billion.
Hover over the bars on the graphs or use the charts to navigate to more in-depth information on government revenue and spending.
General Fund Revenue by type
General Fund revenue, the state’s primary operating fund, has been outperforming expectations this year and is currently at $17.9 billion as FY 2019 comes to a close.
Taxes make up the bulk of the General Fund, almost 50%, with $8.2 billion. Net income tax collections, the state's largest revenue source, helped the General Fund take in 7% more than expected during April and 18.6% more than the same time last year. Incomes taxes were 11% above expectations in April and have generated more than $3 billion for the state this year.
All tax types have thus far exceeded expectations.
Grants, refunds and reimbursements comprise approximately $7.3 billion in revenue for the General Fund.
Tax revenue
Tax revenue for the state is currently $11.6 billion for 2019. Sales taxes make up most of the overall tax revenue, almost 40%, at more than $4.6 billion.
Personal taxes are the second largest percentage of the state's tax revenue at 34%, almost $4 billion. Business taxes have generated $1.3 billion in revenue.
Revenue by funding source
Oklahoma has brought in more than $742 million this year from licensing and other fees like motor vehicle-related permits.
Motor fuel special assessments have generated most of the vehicle revenue at $29.8 million. Overweight truck permits account for more than $16 million in revenue for the state.
Other types of licensing fees, such as the hunting and fishing licenses and other permits issued by the Wildlife Commission, account for almost $18 million in revenue.
Business licenses, permits and fees such as sales tax permits and Energy Resource Assessment fees have generated $76.9 million in revenue for the state.
Federal grants by agency
The federal government has helped bolster state revenue with $7.2 billion in payments to Oklahoma agencies.
Federal grants and reimbursements to the state comprise more than $4.6 billion of those payments.
Oklahoma has also received more than $20.7 million in federal loans.