Associated Press Published

W.Va. Tax Collections Up in January


For the first time this fiscal year, state tax collections in West Virginia have exceeded monthly projections.
     Deputy Revenue Secretary Mark Muchow tells media outlets that despite the surplus of $8.4 million in January, collections through the first seven months of the fiscal year are $73 million less than anticipated.
     Collections in January totaled $391.7 million. Muchow says that included $15 million in taxes that were due Dec. 31 and were posted as January revenue.
     Personal income tax collections were about $2.2 million ahead of January’s projections, while sales taxes were $2.3 million below expectations.
     Overall, yearly collections are down 1.1 percent compared with the same time a year ago.