Ohio rakes in $45 million in online taxes

 DAYTON, Ohio (AP) -- Online sales tax collections have hit an all-time high in Ohio this year.

The Dayton Daily News reports that the state has collected $45 million from out-of-state retailers in the 2014 budget year. That's a 68 percent increase over the past five years.

The money is pouring in after Ohio officially joined a multi-state effort to streamline sales tax for online purchases.

The Ohio Department of Taxation estimates that the state stands to eventually tap into an estimated $308 million worth of tax revenue from online sales.

Still, Ohio doesn't have legal authority to collect from online retailers who don't operate in a physical location in the state, such as Amazon.

The result: Many buyers don't get charged sales tax on millions of dollars' worth of purchases.

Print this article Back to Top

Comments

or Subscribe now so you can share your opinion! It’s only a penny for a month trial.