Tag: gross production taxes

Quick Take: New fiscal year off to mixed start

This week’s announcement of General Revenue (GR) collections for the first month of the new fiscal year (FY 2013) provided mixed news for both overall collections and the performance of particular major taxes. Overall GR in July was $382.7 million.… Read more [More...]

(Oklahoma Economic Report) Natural Gas: Beneath the surface

This article appeared in the April 2012 edition of the Oklahoma Economic Report, a publication of the Office of State Treasurer Ken Miller. It is reprinted here in its entirety with permission. It seems that each day brings another story… Read more [More...]

Stand back, we don’t know how big these things may get

In the final days of the 2010 session, when legislative leaders were faced with historic revenue shortfalls and were desperate for ways to balance the budget, a deal was struck with representatives of the energy industry on oil and gas… Read more [More...]

Eliminating tax breaks: The dog that didn't bark

In her first State of the State speech, Gov. Fallin said, ”Our course of action will be simple: only tax credits that create jobs will stay. For instance, my budget begins the process of restoring the Aerospace Engineer Tax Credit,… Read more [More...]

The Weekly Wonk – April 1, 2011

What’s up this week at Oklahoma Policy Institute? The Weekly Wonk is dedicated to this week’s events, publications, and blog posts. This week OK Policy released a fact sheet on gross production tax exemptions.  Gross production of oil and gas… Read more [More...]

I don't need it but I'll take it – Revisiting oil and gas tax breaks

A recent news report examining proposals to limit the federal tax deduction for charitable giving concluded with a comment that gets to the crux of the debate over tax breaks: As one donor explained, he doesn’t give to charity to… Read more [More...]

Quick Take: February revenue collections show continued growth but full recovery remains far off

Yesterday, State Finance Director Preston Doerflinger announced state General Revenue (GR) collections for February.  The news was generally positive. February’s collections came in 12.0 percent higher than one year ago; this was the eleventh straight month that monthly GR collections… Read more [More...]

Over a barrel: HB 2432 makes a flawed system of oil and gas tax subsidies even worse

In their efforts to find additional revenues for the upcoming budget year, legislative leaders and Governor Henry took some strong and politically risky steps to suspend tax credits for various forms of economic activity. But when it came to tax… Read more [More...]

Energy Stabilization Fund proposal would help avoid wild budget swings

House Speaker Chris Benge this week was joined by Republican Senator Patrick Anderson and Democratic Senator John Sparks in unveiling a proposal to create a new budgetary reserve fund to help cushion the state from a repeat of the extreme… Read more [More...]

Glimmers of good news in state revenue collections?

This month’s announcement of December General Revenue collections didn’t seem to provide much in the way of good news. Revenues for the month again came in around 30 percent below levels of one year ago (graph) and 30 percent below… Read more [More...]