West Virginia records revenue $152M over estimates in May
CHARLESTON, W.Va. (AP) — Tax collections in West Virginia during the month of May flew past projections by $152.2 million.
The higher-than-expected revenue is considered to be a result of Tax Day moving from April to May and the infusion of $1,400 federal stimulus checks into the economy, the Charleston Gazette-Mail reported.
Tax collections in May totaled $491 million, 45% higher than estimates.
Republican Gov. Jim Justice also said last week a budget surplus has allowed the state to invest $150 million into highway projects. Justice said it would fund 702 miles (1,130 kilometers) of road paving and projects on 40 bridges across all 55 counties.
The legislature approved the funds in a special session Monday.