Ohio’s March Tax Receipts Fall Short of Forecast by Nearly $160 Million

Last month, Ohio’s total General Revenue Fund tax receipts fell short $159.4 million, or 10.5%, from what analysts had projected before the COVID-19 outbreak. Despite last month’s huge dip in economic activity, the state is still in the black for the fiscal year to date, having collected $89.5 million over estimates, or 0.5%.

Ohio’s Office of Budget and Management says that income tax revenues this month will likely miss the April estimates “by a significant margin” due to lawmakers moving the tax filing deadline to July 15. 4/6/2020