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Okla Revenue Exceeds Prior Year, Estimate (Jan 11, 2011)

OKLAHOMA CITY (AP) — The money coming into state coffers last month exceeded both prior year collections and the official estimate.

New State Treasurer Ken Miller said the December revenue report shows the economy is gaining strength, although he cautioned it's in the early stages of recovery.

Preliminary reports released Tuesday showed collections to the state's general revenue fund totaled $454.5 million in December. That's $52 million, or 13 percent, more than December 2009, and nearly $19 million, or 4 percent, above the estimate.

Miller said taxes on net income, sales, motor vehicles and the production of oil and natural gas all showed improvement in December over the prior year and outpaced the official estimate.

Overall, revenue collections for the first six months of the fiscal year totaled $2.3 billion.

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