WV general revenue collections remain 4 percent below expectatio - WOWK 13 Charleston, Huntington WV News, Weather, Sports

WV general revenue collections remain 4 percent below expectations

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West Virginia's personal income tax collections continued to slide in December.

With the first half of the fiscal year complete, personal income tax collections were only 92 percent of estimates. The state collected slightly less than $93 million from the tax in December compared with its budgeted estimate of about $101 million.

Through the end of November, personal income tax collections were only 5 percent below expectations.

Several other revenue streams finished the first half of the fiscal year below budget:

  • The consumer sales tax brought in $592.3 million, or about 2 percent under budget.
  • Severance tax collections totaled $210.3 million, or 1 percent under budget.
  • The business and occupation tax brought in $48.6 million, or 3 percent under.

Meanwhile, some revenues were over budget:

  • Corporation income/business franchise tax produced $113.1 million, or 3 percent over budget.
  • Lottery transfers totaled $16.9 million, or 2 percent over.

Overall collections of $361.5 million in December were 6 percent under budget. Year-to-date collections of about $1.91 billion were only 96 percent of the budgeted amount.