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Dec 7, 9:04 AM EST

Treasurer: November revenue rises 12.4 percent in Oklahoma


OKLAHOMA CITY (AP) -- Oklahoma State Treasurer Ken Miller says revenue collections for November were up 12.4 percent over November last year.

Gross receipts to the treasury were $893.4 million, up by $98.6 million from November 2016, making it the eighth consecutive month that revenue increased from the previous year's number.

Gross revenue totals $11.3 billion during the past 12 months, an increase of $512.5 million, or 4.7 percent, over the previous 12 months.

Miller said the numbers "paint an encouraging picture" for the economy.

Nearly a quarter of the increase - $24.4 million - is attributed to legislation that includes a 1.25 sales tax on motor vehicle sales, a 3 percent increase in the horizontal gross production tax on horizontal drilling.

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