Severance Tax

Government Curtis Tate, Jun. 02, 2025

Severance, Sales Tax Rise In May, But Total State Revenue Is Down

Higher severance tax and sales tax revenues helped offset a slump in personal and corporate income tax revenues in May. ...

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Government Caelan Bailey, Feb. 03, 2025

January State Revenue $13.8 Million Below Estimates

As fiscal concerns flare entering the legislative session, January’s Senate finance revenue report shows the state took in at least $13,800,000 less than th...

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Government Caelan Bailey, Jan. 16, 2025

$400 Million Cliff: Morrisey Projects Wide-Ranging Budget Cuts

Gov. Patrick Morrisey laid out the specifics on “belt-tightening” as he said the state budget faces a fiscal cliff in the upcoming fiscal year.

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Government Caelan Bailey, Dec. 04, 2024

Justice Outlines Senate Agenda, Points To Energy Market Potential

In his briefing on Wednesday, Gov. Jim Justice committed to continuing to cut taxes when he assumes his office in the U.S. Senate next year. He pointed to expanding the energy market as the “key to the whole situation” to raise nationwide revenue....

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Economy Curtis Tate, May. 05, 2023

Days Are Numbered For State's Severance Tax Windfall, Expert Says

Higher coal and natural gas prices, and higher demand for both generated a severance tax windfall that fattened the state’s budget surplus last year.

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Government Eric Douglas, May. 01, 2023

State Budget Surpluses Continue To Rise

For the 2022 fiscal year, the state had a budget surplus of $1.3 billion. Cabinet Secretary for the Department of Revenue Dave Hardy said he expects to surpass $1.7 billion in budget surpluses for the year.

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