Preliminary Numbers Show Income Tax Revenue Fell Short Of Estimates In September
State tax revenue came in below estimates last month, after two months of better-than-expected numbers. But the state says it’s still in good financial shape.
The preliminary numbers for September show a 2.3% dip in the personal income tax revenue compared to estimates. Meanwhile total tax receipts came in just under one half of one percent below estimates.
Despite these lower than expected numbers, the state is still above water when it comes to total revenue.
Last fiscal year Ohio’s personal income tax revenues came in below estimates 11 out of the 12 months.
A spokesperson with Ohio’s budget office says the state is in a much better position now than this time last year.