Ohio Tax Revenue Is Beating Estimates by 4.2% for Fiscal Year

Fueled by continued strong sales tax revenue, Ohio’s October tax receipts beat estimates by $84.8 million, or 4.3% above forecasts. According to the Office of Budget and Management’s monthly financial report released this week, total tax receipts have exceeded estimates by $347.2 million (4.2%) for the fiscal year so far.

The report notes that Ohio’s manufacturing employment increased by 3,100 jobs from August to September, with aerospace and miscellaneous transportation and equipment seeing the largest expansions within the sector. 11/9/2020