With just three months remaining in the current fiscal year, Ohio’s revenue collections continue to outperform expectations. In its preliminary revenue report for March, the Office of Budget and Management reported that March tax collections exceeded estimates by $41.4 million (2.6%). The Commercial Activity Tax was $11.1 million (118%) above the March estimate.
For the fiscal year so far, tax receipts have beaten the forecast by $763.4 million (4.3%). Compared to this point in FY20, tax collections are up $1.57 billion (9.3%). 4/7/2021