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Wednesday, December 11, 2024

Higher individual income tax revenue in Ohio as of Q1 2023 compared to Q1 2022

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Patricia Harris Tax Commissioner at Ohio Department of Taxation | Ohio Department of Taxation

Patricia Harris Tax Commissioner at Ohio Department of Taxation | Ohio Department of Taxation

Ohio collected $2.3 billion in individual income taxes during the first quarter of 2023, a 4% increase over the same period in the previous year, according to the U.S. Census Bureau's Quarterly Summary of State and Local Taxes.

In the first quarter of 2022, $2.2 billion was collected in individual income taxes.

Individual income taxes are based on net personal income and taxes imposed on such income as dividends, interest and income from intangibles.

In addition to detailed tax revenue data from each state, the Quarterly Summary of State and Local Government Tax Revenue includes an estimate of state and local government tax revenue at a national level.

The Census Bureau cautions that it sets the tax classifications among the survey categories, and they may differ from the classifications set by state governments.

Overall, Ohio collected $10.2 billion in combined tax revenues in the first quarter of 2023.

Q1 2023 Ohio Tax Collections

Type of TaxAmount (in millions of dollars)
Sales and Gross Receipts Taxes$7,076
License Taxes$719
Individual Income Taxes$2,339
Total Income Taxes$2,339
Other Taxes$16

Source: U.S. Census Bureau

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