State Treasurer Todd Russ released the August 2026 State Tax Revenue Report, showing Oklahoma’s total revenue reached $18.0 billion over the last 12 months, an increase of $1.3 billion, or 6.1%, compared to the same period last year.
August monthly revenue totaled $1.3 billion, an increase of $47.2 million, or 3.7%, compared to August 2025. The monthly total was down 8.8% from July.
“August’s numbers show Oklahoma’s economy continuing to move in a positive direction,” said Treasurer Russ. “Annual revenue has reached $18 billion, with growth across several major tax sources, while manufacturing remains firmly in expansion territory. We’re also seeing some moderation in inflation, even as the labor market continues to cool. Together, these indicators point to a stable economic environment as we move into the fall.”
Key Takeaways from the August 2026 Tax Revenue Report
- 12-Month Total: Oklahoma revenue totaled $18.0 billion for the 12 months ending in August, up $1.3 billion, or 6.1%, from the same period last year.
- Rolling 12-Month Growth: August marked the 12th consecutive month of growth in Oklahoma’s rolling 12-month revenue total. The annual growth rate increased 0.26% during the month, following growth of 0.21% in July.
- Total Monthly Revenue: August revenue totaled $1.3 billion, up $47.2 million, or 3.7%, compared to August 2025.
- Income Tax: Combined individual and corporate income tax totaled $392.2 million for August, up $6.0 million, or 1.6%, from the same month last year. Individual income tax increased 11.6%, while corporate income tax declined.
- Sales and Use Tax: Combined sales and use tax totaled $631.0 million, up $36.1 million, or 6.1%, year-over-year. Sales tax increased 5.2%, while use tax increased 10.1%.
- Gross Production Tax: Gross production tax totaled $100.0 million, an increase of $14.2 million, or 16.5%, compared to August 2025.
- Motor Vehicle Tax: Motor vehicle tax totaled $61.1 million, down $10.4 million, or 14.5%, from the same month last year.
- Other Sources: Revenue from other tax sources totaled $135.1 million, down $1.3 million, or 0.9%, compared to August 2025.
Revenue Trend and Economic Context
The rolling 12-month revenue total continued its upward trend in August, extending a yearlong period of consecutive growth. The annual revenue measure has remained above the previous month’s level for 12 consecutive months, with the August growth rate reaching 0.26%.
Oklahoma’s Business Conditions Index registered 60.2 in July, remaining well above growth-neutral and indicating continued manufacturing expansion. At the same time, labor market conditions have weakened, with Oklahoma’s unemployment rate at 4.3%, compared to 4.1% nationally.
Inflation also showed signs of moderation. The Consumer Price Index declined to 3.4%, marking the first decline following an extended period of increases.
“Oklahoma continues to see strength across important parts of the state’s economy,” Treasurer Russ said. “Energy and consumer-related revenues are contributing to annual growth, while manufacturing activity remains strong. The decline in inflation is encouraging, although the cooling labor market is something we will continue to monitor.”
Over the 12-month period ending in August, individual income tax totaled $6.4 billion, up $720.3 million, or 12.7%. Sales and use tax totaled $7.2 billion, up $356.8 million, or 5.2%, while gross production tax totaled $1.2 billion, up $100.0 million, or 9.4%.
The complete August 2026 Investment Report is available at treasurer.ok.gov, including portfolio performance details, asset allocation, market updates, and economic indicators.
