Gov. Jim Justice announced today that state revenue for April just slightly exceeded estimates even though the income tax filing deadline was delayed by a month as a grace period for the coronavirus pandemic.
General Revenue collections for April totaled $539,765,136.
That exceeding the monthly estimate of $537,879,000.
So the difference was $1,886,136.
Justice said that wasn’t as high as state officials had hoped, but “We’ll take any number that’s in the black.”
The governor noted that the revenue the state has taken in exceeds estimates for the fiscal year by a little more than $237 million.
“That’s wonderful, wonderful news,” Justice said.
The state began the fiscal year running a surplus of $244.3 million so the state has largely been holding steady since then. That start to the fiscal year came on a wave of $144 million in August income tax collections because West Virginia had moved the filing deadline for people adjusting to the coronavirus pandemic.
An analysis of the past month’s revenue collections by the state Senate Finance Committee shows that personal income tax collections were below estimates by $81,193,154. But the state delayed this year’s individual tax filing deadline to May 17.
Severance tax collections were s $14 million above the monthly estimate.
Consumer sales and service tax collections for the month were $22 million above the estimate.