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Preliminary December Revenue Data

FOR IMMEDIATE RELEASE  

January 6, 2020 – Columbus

 

Personal Income Tax Finishes the Month of December $35.6 Million Above Estimates

Office of Budget and Management Releases Preliminary December Revenue Data

Personal income exceeded OBM estimates by 4.5 percent during month

 

 

Today, the Office of Budget and Management released preliminary December 2019 revenue data. Total tax receipts finished the month at the $1.9 billion estimate (-0.1%).  

Total fiscal-year-to-date tax receipts through December currently exceed estimates by $93.2 million and are $313.8 million over total receipts through the same period last fiscal year.

“Personal income receipts in Ohio were notably strong in December,” said Director Kim Murnieks. “Our OBM estimates remain right on target as we enter this new calendar year.”

• The Commercial Activity Tax exceeds estimates by $22.7 million, or 2.9% year-to-date. 

• The Auto Sales & Use Tax exceeds estimates by $39 million, or 5.1% year-to-date.

Total tax receipts in December Fiscal Year 2019 versus December Fiscal Year 2020 grew by $66.5 million, or 3.6%.

A more detailed explanation will be included in the Monthly Financial Report, which will be posted on the OBM website on Friday, January 10. 

 

 

(Tables 1 and 2 are available within full download)