From the Columbus Dispatch…
State's November tax receipts 5.4% over projections
Monday, December 13, 2010
By Mark Niquette
The state is facing an $8 billion shortfall in the next two-year budget that's due by June 30, but at least the current budget is remaining in balance.
Total tax receipts in November exceeded projections by $65.7 million, or 5.4percent, and the state was $214.7million, or 3.3percent, ahead of estimates for the fiscal year, according to preliminary revenue tables released last week.
The November financial picture was helped by revenue from personal income taxes and sales taxes coming in higher than projected. Both taxes also were running ahead of estimates for the fiscal year.