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Ohio Tax Revenue Increased In April
By: Associated Press
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COLUMBUS, Ohio (AP) — Ohio’s budget office says tax revenue picked up considerably in April, putting year-to-date revenue figures 3% above estimates.
The data reported Thursday by the Ohio Office of Budget and Management shows $1.33 billion in personal income tax collections in April, beating projections for that month by $377 million.
The positive revenue news means Senate lawmakers will have a cushion to work with as they begin debate on the two-year state budget following House passage on Thursday.
State Budget Director Kimberly Murnieks tells Gongwer news service that the solid April numbers more than made up for shortfalls in December and January.
The budget office said sales taxes also came in strongly last month, with taxes on cigarettes and tobacco products the only taxes falling below estimates.