CHARLESTON, W.Va. (AP) — West Virginia enters the new year with revenue collections at $394 million above estimates so far for fiscal 2022.
Gov. Jim Justice announced Monday that revenue collections for December were nearly $507 million, a whopping $124 million above estimates and the highest for the month since at least the 1970s.
Midway through the fiscal year, revenue collections have totaled $2.52 billion.
Personal income tax collections were $26.8 million above estimates for December and $117 million ahead for the first six months of the fiscal year.
Corporation net income tax collections were $51 million higher than the monthly estimate and $95 million ahead for the year-to-date.
Consumer sales tax receipts were $20.1 million above the monthly estimate and severance tax collections from the production of coal, natural gas and oil were $30 million higher than the December estimate.