CHARLESTON, W.Va. –Revenue numbers are in from the month of March, and they show the state’s revenue collections came in at $439.5 million, nearly $39.4 million above the monthly estimate.
West Virginia is now $101 million dollars ahead of estimate nine months into the fiscal year.
In a statement, Revenue Secretary Eric Nelson said his staff is pleased with the numbers, but it’s just one step of many.
“While we are optimistic that March revenues exceeded expectations, we remain vigilant as West Virginia’s financial challenges remain,” Nelson said. “We are committed to working with the Governor’s office and the Legislature as the budget process continues.”
The state’s personal income tax collections were nearly $7.1 million above estimates, with collections totaling $135.9 million. Total collections of nearly $62.6 million for severance tax came in around $20.7 million above the monthly estimate.
For the second month in a row, consumer sales tax collections fell short of estimates. Total collections were $142.8 million — nearly $7.6 million below estimates.