CHARLESTON, W.Va. — With state tax collections for November exceeding estimates by $30.54 million, and topping November 2013 figures by $38.2 million, , Revenue Secretary Bob Kiss was able to declare for the first time in his tenure, “We had a very good month.”
With tax collections coming in 11.5 percent above estimates for the month, and 15 percent ahead of November 2013, state revenue collections have essentially erased a projected deficit for the budget year, at least for the moment, he said.
“We need to see December numbers,” Kiss said Tuesday. “If we get some good numbers in December, things will start looking better.”
The two major state taxes, consumer sales taxes and personal income taxes, both outperformed expectations in November, with personal income tax collections coming in $16.6 million ahead of estimates, at $128.01 million.
Deputy Revenue Secretary Mark Muchow said that was driven by a surge in withholding tax payments, which suggests an improving trend in overall employment in the state.
Year-to-date, income tax collections are running 8 percent ahead of the same point last year…