West Virginia’s tax revenue slide is continuing as October’s collections fell about $8 million below estimates.
Deputy revenue secretary Mark Muchow tells media outlets that collections of personal income, consumer sales and business and occupation taxes were all below estimates.
Personal income and consumer sales taxes are the state’s biggest sources of tax revenue.
Natural gas production boosted severance tax collections above estimates. But Muchow says it wasn’t enough to offset the declines.
October’s tax collections totaled about $313.5 million.
Tax collections in September were about $2 million below estimates.