CHARLESTON, W.Va. — State revenue collections exceeded estimates in November by $44 million dollars.
The state collected $404.7 million in taxes for the month. The original estimate was $360.7 million.
After five months of the fiscal year, collections have exceeded estimates by $286.2 million.
The collection numbers for personal income taxes exceeded estimates by $9.3 million. Meanwhile, severance tax collections missed estimates by $8.9 million.
Consumer Sales tax collections exceeded estimates by more than $17 million.
A closer look at the numbers show at this time last year, year-to-date severance tax collections were $370 million above estimates. This budget year after five months collections exceed estimates by $44 million.
General revenue was ahead of estimates by $687.4 million at this time last year, it’s at $286.2 million heading toward the halfway mark of the fiscal year this year.