CHARLESTON, W.Va. — The state’s revenue collections exceeded estimates for a seventh straight month in October, Gov. Jim Justice announced Saturday night.
The October surplus of $2.4 million is more modest than in recent months. It brings the year-to-date collections-over-estimates amount to $122.3 million or 13.5 percent over last year at this time.
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“West Virginia’s economy continues to move forward and Revenue Fund collections keep exceeding the estimates for Fiscal 2019,” Justice said in a news release. “This is a great story that keeps getting better and the numbers keep supporting it.”
According to the governor’s office, the 13.5 percent growth rate in the first four months of the fiscal year is the highest growth for the budget year’s first quarter in 25 years.
Collections for severance tax, consumer sales tax, personal income tax and corporate net income tax are ahead of last year’s four-month collection mark.