Ohio rakes in $45 million in online taxes - WFMJ.com News weather sports for Youngstown-Warren Ohio

Ohio rakes in $45 million in online taxes

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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.

Information from: Dayton Daily News, http://www.daytondailynews.com

Copyright 2014 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

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