Ohio tax collections surpass 6-month projections

COLUMBUS (AP) — Officials say Ohio is pulling in tax money at rates that could leave the state with a $400 million surplus when its current fiscal year ends in June.

The administration of departing Democratic Gov. Ted Strickland says total tax receipts in the first half of the fiscal year topped estimates by nearly $300 million, or 3.7 percent.

According to multiple media reports, total tax collections from July through December were $511 million ahead of the same period in 2010, a 6.7 percent increase.

The state still faces the prospect of an $8 billion shortfall in its next two-year budget, due by June 30. But officials say the numbers indicate Ohio’s revenue is trending in the right direction.