By Phil Kabler, Charleston Gazette-Mail
CHARLESTON, W.Va. — State revenue collections cleared a low bar for July, coming in $28.1 million above estimated tax collections of just $277.68 million — the lowest revenue estimate for any month since February 2018.
The $305.8 million of tax collections were down 38%, or $189.5 million, from June revenue collections of $495.3 million, and were $178.16 million less than the $483.96 million the state took in for July 2020 — a month that benefited from having a delayed income tax filing deadline.
July income tax collections of $141.78 million beat estimates by $14.68 million, but were down $134.62 million from July 2020 collections.
It also marked a $14.49 million decline from June 2021 income tax collections of $156.27 million.
The other key pillar of state tax collections, sales taxes, came up short in July, with collections of $89.78 million falling short of estimates by $4.62 million, or about 5%…
To read more: https://www.wvgazettemail.com/news/with-bar-set-low-comparatively-weak-july-tax-collections-top-estimates-by-28-million/article_7aa2d98d-f647-56b9-9bf3-e96976532e97.html