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Toledo tax office reports August revenue gains, plans to join Ohio attorney general offset program
Summary
At a meeting of the Finance, Debt and Budget Oversight Committee, city tax officials said August income-tax receipts showed unusual timing effects from a few large employers and outlined plans to participate in the Ohio attorney general's refund-offset program in the fourth quarter to improve collections without direct cost to the city.
The Finance, Debt and Budget Oversight Committee heard an August income-tax report from the city's taxation commissioner, who said withholding and business payments rose in the month largely because a handful of large employers shifted payments into August.
Commissioner of Taxation John Zavisha told the committee that withholding for August was up about $1,900,000 (13.6 percent), but that roughly $1,000,000 of that increase came from three companies in the city's top-15 that made September payments in August to avoid the Labor Day holiday. He said one company accounted for just under 42 percent of business-category receipts for the month, which can cause large month-to-month swings.
Why it matters: Income-tax receipts fund core city services.…
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