Play Live Radio
Next Up:
0:00
0:00
0:00 0:00
Available On Air Stations

State Income Tax Collections In January Exceeded Projections

State income tax collections for January exceeded projections.  

Ohio Public Radio's Karen Kasler reports. 

Income tax collections for January were nearly 25% more than expected. Budget director Tim Keen says the federal tax reform passed in December won’t allow for future state and local tax deductions, so people may have filed quarterly estimated payments early.

“We would expect we’ll give those back through refunds that are greater than we expected or return payments in April and May that are less than we expected, so we think there’s a large element of timing there.

And Keen says he’s still worried about sales tax revenue, which was 7 percent below projections for last month. The state has a $221 million surplus for the fiscal year so far, and while Keen says he doesn’t expect it to stay that big, he says the state is still running modestly ahead of estimates.

The Statehouse News Bureau was founded in 1980 to provide educational, comprehensive coverage of legislation, elections, issues and other activities surrounding the Statehouse to Ohio's public radio and television stations. To this day, the Bureau remains the only broadcast outlet dedicated to in-depth coverage of state government news and topics of statewide interest. The Bureau is funded througheTech Ohio, and is managed by ideastream. The reporters at the Bureau follow the concerns of the citizens and voters of Ohio, as well as the actions of the Governor, the Ohio General Assembly, the Ohio Supreme Court, and other elected officials. We strive to cover statehouse news, government issues, Ohio politics, and concerns of business, culture and the arts with balance and fairness, and work to present diverse voices and points of view from the Statehouse and throughout Ohio. The three award-winning journalists at the bureau have more than 60 combined years of radio and television experience. They can be heard on National Public Radio and are regular contributors to Morning Edition, All Things Considered and Marketplace. Every weekday, the Statehouse News Bureau produces in-depth news reports forOhio's public radio stations. Those stories are also available on this website, either on the front page or in our archives. Weekly, the Statehouse News Bureau produces a television show from our studios in the Statehouse. The State of Ohio is an unique blend of news, interviews, talk and analysis, and is broadcast on Ohio's public television stations. The Statehouse News Bureau also produces special programming throughout the year, including the Governor's annual State of the State address to the Ohio General Assembly and a five-part year-end review.
Related Content