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W.Va. Revenue Collections Improve in August
West Virginia’s revenue collections improved in August as several taxes beat estimates.
State figures released Wednesday show revenue collections topped $292 million in August. That’s up more than $16 million compared to August 2013.
Severance tax collections totaled $36.6 million and exceeded August estimates by about $4 million. Deputy Revenue Secretary Mark Muchow says a boom in natural gas production continues to offset coal production declines.
The state collected about $4.5 million in corporate net tax revenue, nearly 70 percent above estimates.
Overall, August tax collections missed estimates by about $1.3 million.
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