CHARLESTON (AP) — West Virginia general tax revenues continue to struggle in the budget year that began July 1.
August collections topped $287 million. That’s $14 million below the month’s estimate.
Revenues had previously missed their mark in July by $2.5 million.
Personal income taxes account for much of the August shortfall. They came in more than $13 million below projection.
The month’s figures also show continuing weakness in revenues from coal and other extracted natural resources. Those severance taxes yielded nearly $36 million, or $9 million less than expected.
But sales, corporate net income and business franchise taxes beat their August targets by a combined $6 million.
West Virginia is counting on $4.1 billion from general tax revenues for this budget year, which ends in June 2013.
Post a Comment
