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January tax collections below estimates as W.Va. officials look at future budget issues

By Steven Allen Adams for The Journal

CHARLESTON – Tax collections in West Virginia for the first month of the second half of fiscal year 2025 came in below estimates for the third time since last July, as Gov. Patrick Morrisey and state revenue and budget officials look for money for the next fiscal year.

According to the monthly reported released Monday morning by the state Senate Finance Committee, January tax collections for the general revenue budget for the current fiscal year came in at $478 million, which was 2.8% below the $491.8 million estimate set by the state Department of Revenue.

January joins August and October as the third month that tax collections did not meet estimates since the start of fiscal year 2025 last July. However, fiscal year-to-date tax collections remain just barely in the black, with $3.15 billion for the first seven months of the fiscal year. That is .9% above the $3.13 billion revenue estimate, providing the state a $27.9 million surplus.

Read more: https://www.journal-news.net/journal-news/january-tax-collections-below-estimates-as-w-va-officials-look-at-future-budget-issues/article_35fec34b-a320-5472-9dff-b48bcc47d324.html

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