The Oklahoma State Treasurer’s Office has released its September 2026 Tax Revenue Report, showing continued growth in the state’s annual revenue total, with the rolling 12-month measure reaching $18.18 billion. September marked the 13th consecutive month of growth in the rolling 12-month revenue total. Annual revenue increased by $1.2 billion, or 7.1%, compared with the same period last year.
“September’s report shows continued growth in Oklahoma’s revenue base, with tax revenue increasing across most major sources compared with a year ago,” said Treasurer Todd Russ. “The state’s annual revenue total has continued to reach new highs, providing a strong foundation as we move into the final months of the year.”
Key Takeaways
- 12-Month Total: $18.18 billion, up $1.2 billion or 7.1% from the same period last year.
- Rolling 12-Month Growth: September marked the 13th consecutive month of growth, with the annual revenue measure increasing 1.01%.
- Monthly Revenue: September revenue reached $1.7 billion, an increase of $182 million or 12.1% from September 2025.
- Income Tax: Combined income tax revenue reached $7.3 billion for the year, up $655 million or 9.9%, led by a 14.2% increase in individual income tax.
- Sales and Use Tax: Combined sales and use tax reached $7.3 billion for the year, up $464.2 million or 6.8%, with use tax increasing 15.5%.
- Gross Production Tax: Annual gross production tax reached $1.2 billion, an increase of $101.4 million or 9.5%, while September revenue increased 6.3% year over year.
- Motor Vehicle Tax: Annual motor vehicle tax totaled $890.1 million, up $13.1 million or 1.5%, with September revenue increasing 1.3% from a year ago.
- Other Tax Sources: Annual revenue from other tax sources totaled $1.6 billion, down $29.6 million or 1.9%, while September revenue increased 2.3% year over year.
Revenue Growth Continues
The rolling 12-month revenue total continued its upward trend in September, marking the longest sustained period of increases in the current reporting cycle. The annual measure increased 1.01% in September, following increases of 0.26% in August, 0.21% in July and 0.48% in June.
All major tax sources except motor vehicle tax showed year-over-year growth in September. Individual income tax increased 25.1%, sales tax increased 9.4%, use tax increased 30.1%, gross production tax increased 6.3%, and other tax sources increased 2.3%.
Economic Indicators
The report also includes selected economic indicators that provide context for the state’s revenue trends. The August Business Conditions Index was 55.4, remaining above the growth-neutral level. The Consumer Price Index was 3.4%, with signs of moderation in inflation. Oklahoma’s unemployment rate was 4.3%, compared with 4.2% nationally.
“Revenue growth has remained consistent over the past year, with increases across most major tax sources,” Treasurer Russ said. “The September report provides another look at the state’s revenue position as we head into the final months of the year.”
The complete September 2026 Investment Report is available at treasurer.ok.gov, including portfolio performance details, asset allocation, market updates, and economic indicators.
