CHARLESTON, W.Va. — State revenue collections in November exceeded estimates by $112.6 million.
The state estimated it would bring in just more than $367 million in taxes for the month but instead collections totaled $480 million.
Exceeding estimates have been a trend during the last two budget years. Following five months of the fiscal year, the state has now collected $687.4 million above projections.
The state Senate Finance Committee released the new revenue numbers Thursday.
Severance tax collections for the month totaled more than $112 million, $88 million above estimate.
Collections for consumer sales tax exceeded estimates by $15 million.
Not everything did well in November, personal income tax collections fell $10.4 million below the November estimate.
Taking all of the numbers into account, through five months, the state has collected 54% of the total revenue its forecasted for the 2022-2023 fiscal year.