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State Income Tax Revenues For March Were Below Projections

Ohio Public Radio

For the second consecutive month, state personal income tax collections came in at a rate lower than expected. 

Ohio Public Radio's Karen Kasler reports.

The state’s personal income tax haul in March was off nearly 3 percent from forecasts, down 14 million dollars. February’s income tax revenue take was down slightly too, but with a huge jump recorded in January, income tax collections are still up by 210 million dollars, or nearly 4 percent for the fiscal year. For the first time in four months, sales tax revenues were up – in March, by 5 percent. But the commercial activity tax that businesses pay was way off – down more than 87 percent. And that has dragged down overall tax revenues – for the third straight month they’ve come in under estimates, but are down only two tenths of a point for the year.

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