News
West Virginia Tax Receipts Up 5.3 Percent From Last Year
By: Associated Press
Posted on:
CHARLESTON, W.Va. (AP) – West Virginia tax officials say collections of $1.3 billion so far this fiscal year are 5.3 percent higher than last year, with October receipts nearing $354 million, both close to projections.
Revenue Secretary Dave Hardy says the four-month results indicate the state won’t need to make midyear budget cuts like it did last year.
The increases partly reflect more severance taxes collected on production of natural gas, coal and oil from a year ago.
Deputy Secretary Mark Muchow says October showed higher personal income tax collections of $156 million, including five percent higher payroll withholdings.
He says state data showed non-farm employment for September totaled 746,800 workers, up about 3,000 from a year earlier, concentrated in mining and logging, with some growth in health care, education and construction.