6:00: Morning News

Revenue collections miss estimates in August

CHARLESTON, W.Va. — The state missed the mark in revenue collections for a second straight month in August.

Information released by the state Senate Finance Committee Tuesday, shows the state collected $16.8 million less in taxes than projected in August. The state is now below estimates by $49.8 million following two months of the new fiscal year.

MORE Read finance report here

August was not a good month for personal income tax collections, missing the mark by more than $5 million. Severance tax collections were below estimates by $12 million

Collections for consumer sales tax beat estimates by $3.8 million.

September will likely prove to be the first big test for collections this fiscal year with first quarter taxes due.

Following a record setting 2019 fiscal year for collections, August marked the third straight month has missed estimates.

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