By Steven Allen Adams, The Journal
CHARLESTON, W.Va. — West Virginia tax collections for January have taken the state’s tax revenue surplus just short of $1 billion.
Now, Gov. Jim Justice and the Republican majorities in the Legislature must figure out how to return some of it to taxpayers.
According to a monthly report from the state Senate Finance Committee, January tax collections of $621.1 million were 35% more than the $461.9 million estimate set by the state Department of Revenue, resulting in $162.2 million in excess tax revenue.
Year-to-date tax collections for the current fiscal year 2023, beginning July 2022 through January, were $3.676 billion, 37% more than the $2.681 billion revenue estimate, resulting in $995.3 million in surplus tax revenue with just five months left in the fiscal year…
