Body
Our state’s economy has outpaced many others around the nation in recent years, setting historic records for gross receipts and General Revenue Fund (GRF) collections. While gross receipts include all revenues remitted to the Oklahoma Tax Commission, our focus is on the GRF collections as these are what are available for appropriation by the Legislature after rebates, refunds, mandatory apportionments, and the various taxes are remitted back to the municipalities. Total GRF collections for the first five months of the current fiscal year were $3.5 billion, nearly $500 million or 17% above FY’22 collections.