COLUMBUS, Ohio — Ohio's tax coffers are nearly $100 million lighter than officials had expected by this point in the fiscal year, largely due to a January income tax shortfall.
Gov. Ted Strickland and his budget chief say one bad month does not make for a trend and note that tax collections were roughly on target for the first six months of the fiscal year, which began July 1.
Officials say total tax receipts for the seven months ending in January fell short of projections by 1.1 percent, or $99.6 million. According to preliminary numbers, last month's income tax collections missed the mark by 15.6 percent.
Budget Director Pari Sabety (SAH'-buh-dee) says it's not clear why income tax receipts were off by so much in January.
___
Copyright 2010, The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.
No comments:
Post a Comment