Ohio’s tax revenues remain slightly ahead of expectations for the current fiscal year, which started July 1. November’s jump in sales taxes were offset by a decline in income taxes, according to the latest monthly report from the Office of Budget and Management. Auto sales taxes saw the largest proportional jump last month, beating projections by nearly 12% — a sign of economic health.
For the fiscal year-to-date, overall tax collections of $9.78 billion are $95 million, or 1%, ahead of official forecasts. The Commercial Activity Tax exceeds estimates by $23.9 million, or 3.1%, while income taxes are 1.1% under forecasts. 12/9/2019