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Budget Surplus
Income Taxes Cut 4 Percent, Justice Planning Special Session For Further Cuts
Gov. Jim Justice said Wednesday that personal income taxes in West Virginia will be reduced by 4 percent beginning in 2025. He said he will call a special session of the West Virginia Legislature this year to discuss further cuts.
Continue Reading Take Me to More NewsA Budget Surplus, A Coming Special Session And COVID-19 Cases Rise, This West Virginia Week
On this West Virginia Week, Gov. Jim Justice made multiple announcements during a Monday event. The governor said West Virginia residents could soon see their income taxes go down further because the state collected $826 million more in revenue than had been budgeted for this fiscal year.
Continue Reading Take Me to More NewsTrigger Law Could Cut Income Tax By Up To 4 Percent
A trigger policy in a 2023 law could cut income taxes by up to 4 percent based on the revenue collected by the state this fiscal year, according to Gov. Jim Justice.
Continue Reading Take Me to More NewsState Revenue For May Lags Behind Expectations, Last Year’s Earnings
West Virginia collected roughly 16 percent less revenue last month than it did in May 2023. Still, this number exceeded state officials’ predictions by $63.7 million.
Continue Reading Take Me to More NewsRecent Stories
State Budget Revenue Healthy, Officials Unsure About Tax Cut Trigger
State revenue is solid for the year, and over estimates, but down from last year because of personal income tax reductions and severance taxes.
Continue Reading Take Me to More NewsJustice Proposes $50 Million Budget For Affordable Housing
Announced Thursday, Justice’s proposal would provide $50 million of state surplus funds for the construction of single and multi-unit houses across West Virginia.
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