Ohio’s May Revenue Improves Odds for Tax Relief

Ohio’s May revenue report shows another month of healthy tax receipts — and the excess revenue likely ensures that significant tax relief will be included in a final version of the FY2024-25 state budget.

As this infographic illustrates, Ohio’s May tax revenue was $214.1 million (8.4%) above the forecast, due mostly to the personal income tax. For the fiscal year to date, total tax revenue has exceeded estimates by $840.7 million (3.3%). 6/12/2023