Oklahoma July revenue collections remain consistent with FY 2027 expectations
OKLAHOMA CITY – General Revenue Fund collections in July totaled $515.7 million, which is $7.8 million, or 1.5%, below the estimate for the first month of fiscal year 2027. This total is also $92.8 million, or 15.3%, below collections from July 2025.
Several timing and revenue distribution factors affected the month's results, making them less directly comparable to the prior year. Corporate income tax and gross production tax on oil (GPT-oil) did not contribute to July GRF collections, and Senate Bill 684 shifted the full Parental Choice Tax Credit payment to August rather than making the payment in two installments during the fiscal year. As a result, the amount of apportionable personal income tax revenue was lower than in July 2025.
"July collections reflect known factors at the start of the fiscal year, not a broader revenue concern," said OMES Director Mark Wood. "Because monthly collections can fluctuate based on when revenues are credited to the General Revenue Fund, year-over-year context is especially important. These results are consistent with expectations, and we will continue monitoring revenue performance closely as FY 2027 moves forward."
July 2026 revenue tables are available on the OMES website.
July 2026 actual collections by category vs. estimates and prior year
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| Categories | July 2026 Estimate (in millions) |
July 2026 Actual (in millions) |
Variance |
|---|---|---|---|
| Total Income Tax | $203.9 | $197.0 | - 3.4% |
| Gross Production | $34.5 | $24.7 | - 28.4% |
| Sales Tax | $204.5 | $202.3 | - 1.1% |
| Use Tax | $46.5 | $58.8 | + 26.5% |
| Other Sources | $34.1 | $32.8 | - 3.7% |
| Categories | July 2025 Actual (in millions) |
July 2026 Actual (in millions) |
Variance |
|---|---|---|---|
| Total Income Tax | $302.0 | $197.0 | - 34.7% |
| Gross Production | $37.2 | $24.7 | - 33.4% |
| Sales Tax | $195.4 | $202.3 | + 3.5% |
| Use Tax | $42.3 | $58.8 | + 38.9% |
| Other Sources | $31.7 | $32.8 | + 3.7% |
As state government’s main operating fund, the GRF is the key indicator of state government’s fiscal status and the predominant funding source for the annual appropriated state budget. GRF collections are revenues that remain for the appropriated state budget after rebates, refunds and other mandatory apportionments, and after sales and use taxes are remitted back to municipalities. In contrast, gross collections, reported by the state treasurer, are all revenues remitted to the Oklahoma Tax Commission.
About OMES
The Office of Management and Enterprise Services provides financial, property, purchasing, human resources and information technology services to all state agencies, and assists the Governor’s Office with budgetary policy matters. Our mission: Provide excellent service, expert guidance and continuous improvement in support of our partners’ goals. For more information, visit oklahoma.gov/omes.
Media Contact
Christa Helfrey
christa.helfrey@omes.ok.gov
