Economic Impacts of COVID-19 on Revenues of the State of Oklahoma

The arrival, presence and spread of the 2019 novel coronavirus (COVID-19) in the State of Oklahoma (State) initiated a cascade of economic impacts and consequences not witnessed since the Great Depression. As the State reacted to the continuing spread of the virus through mandatory shelter-in-place orders, the gross revenues in varying forms of taxes and fees collected by the State declined rapidly. The purpose of this paper is to describe the chronology and economic impact of COVID-19 on the collection of certain tax and fee revenues within the State of Oklahoma from January 1, 2020 through January 31, 2021.