State Reports Gains for Income Taxes, Employment
West Virginia is reporting a 15 percent increase in October income-tax collections, reflecting gains in employment from a year earlier, while overall state revenues of $322.3 million were 2 percent below this year's budget estimate.
The Department of Revenue says overall collections for the first three months of the state fiscal year were almost $1.24 billion, slightly ahead of last year but $87.4 million below the estimate.
The hike in personal income taxes comes mainly from a 12.4 percent rise in payroll withholding.
The report shows quarterly severance tax distributions up slightly for coal but down 35 percent for natural gas and oil due to lower energy prices.
Department Secretary Robert Kiss says they're seeing some better news than the state has seen for some time.