Ohio Revenues Continue to Exceed Estimates

The Office of Budget of Management (OBM) announced this week that Ohio’s January revenues continued to exceed estimates, coming in $81.3 million or 3.6% above forecasted amounts. Exceeding estimates were collections from the non-auto sales tax (3.5%), auto sales tax (8.6%), and the personal income tax (7.2%).

The Commercial Activity Tax (CAT) fell short of estimates by nearly $13.3 million (-18.1%). OBM noted that the CAT remains below estimate fiscal year-to-date, and that it “will monitor this source with interest through February, which is a far more important collections month.” 2/9/2021