Ohio income tax revenue 27 percent short of February estimates, 3 percent short for fiscal year

COLUMBUS, Ohio -- Ohio's state income tax revenue has come up short of estimates in the past several months, and state tax revenue overall is nearly 3 percent below estimates for the fiscal year.

The Columbus Dispatch reports that the state collected almost $280 million in February income taxes. That was 27.5 percent short of estimates, leaving total income tax collections $352 million short for the fiscal year. The total is also 5 percent behind revenue from the same period last year.

The newspaper reports that collections were short $71 million in November, $29 million in December, $92 million in January and $77 million in February.

The state's tax revenue overall is $412 million below estimates. Ohio's unemployment rate is currently at 5 percent.

Read more: http://www.cleveland.com/metro/index.ssf/2017/03/ohio_income_tax_revenue_3_perc.html