West Virginia tax receipts lag behind estimates
CHARLESTON, W.Va. (AP) — West Virginia officials say weaker results in January have caused state tax collections for the first seven months of the fiscal year to lag 1 percent behind original estimates.
Figures released Wednesday show collections of $393 million for the state’s general revenue fund in January were $28.2 million, or 6.7 percent, short of estimates for the month and were 2 percent behind January 2017 collections.
Officials report lower-than-expected corporate, consumer sales and severance tax receipts last month offset higher collections of personal income taxes.
Still, actual collections through the first seven months of the fiscal year are 4.3 percent ahead of collections compared to the year-earlier period.