Press Release

Oklahoma tax revenues rebounded in June after a seasonal May dip, with the latest monthly collections totaling $1.48 billion, a 15.1% increase over May and a 3.3% gain compared to June 2024. The growth closes out Fiscal Year 2025 on a strong note, signaling a resilient economic base as Oklahoma enters the new fiscal year.

Total collections over the past 12 months reached $16.92 billion, a 0.2% increase over the previous 12-month period, indicating solid year-end momentum despite ongoing national and global uncertainty.

“Oklahoma’s revenue rebounded this month, showing total increases across both yearly and monthly comparisons—a strong sign of economic resilience and fiscal momentum as we close out fiscal year 2025 and look ahead to 2026,” said State Treasurer Todd Russ, “As we prepare to celebrate Independence Day, it’s encouraging to see so many signs that Oklahomans are working hard, spending responsibly, and helping build a stable foundation for the year ahead.”

Key Takeaways from the June 2025 Tax Revenue Report:

• Income tax collections surged by 44.6% month-over-month, totaling $593.9 million, as filing activity normalized after the post-season lull.
• Sales and use taxes grew 1.6% from May, totaling $582.6 million, indicating steady consumer spending despite national headwinds.
• Motor vehicle tax revenue rose 4.5%, reaching $81.3 million, reflecting stable demand in the auto sector.
• Oklahoma’s Business Conditions Index rose to 50.6, signaling steady economic expansion.

Ties to National Trends:

Nationally, state revenues have shown mixed results as the U.S. economy continues to adjust to high interest rates and cautious consumer behavior. However, Oklahoma remains comparatively strong, with a diversified economy and balanced fiscal framework.

• The U.S. unemployment rate fell to 4.1% in June, while Oklahoma’s remains lower at 3.1%, reflecting sustained local job strength.
• Inflation remains moderate, with a 2.4% Consumer Price Index, preserving household purchasing power.
• Manufacturing exports from Oklahoma grew 6.4% in Q1, underscoring growth in tradable sectors that support rural and industrial communities.
• While some revenue categories show volatility, the overall fiscal picture remains stable, aided by conservative budgeting and resilient sectors such as energy, logistics, and agriculture.

“These numbers show that Oklahoma’s economy is not only weathering national pressures but closing the year with signs of stability and adaptability,” said Treasurer Russ. “We’re seeing consistent strength in core areas like employment, household spending, and exports—an encouraging sign as we begin a new fiscal year.”

Access the Full Report

The complete June 2025 Tax Revenue Report is available at treasurer.ok.gov, including breakdowns by tax category, sector, and month.

For questions, interviews, or deeper data insights, contact lara.blubaugh@treasurer.ok.gov.

Last Modified on Jul 03, 2025