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Taxes On Oil, Sales Boost State Revenue in April (May 09, 2011)

OKLAHOMA CITY (AP) — The director of Oklahoma's Office of State Finance says a resurgence of activity in Oklahoma's oil fields helped boost state revenue in April.

Finance Director Preston Doerflinger said Monday gross production taxes on oil provided $26.1 million to the general revenue fund last month, revenue that will likely go to the constitutional Rainy Day reserve fund.

Last week, the number of energy rigs operating in the state increased by nine to 183, an increase of 50 percent from a year ago. The American Petroleum Institute says the oil and gas industry directly supports 111,461 jobs in Oklahoma and more than a quarter of the state's economy.

Doerflinger says general revenue collections in April totaled about $577 million. That's $64.5 million or 12.6 percent more than was collected in April 2010.



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