Print |
E-mail to a friend
NEWS BRIEFS
6 months into fiscal year, W.Va. up nearly $75M
CHARLESTON, W.Va. (AP) — West Virginia remains the envy of most of the rest of the country when it comes to state budget revenues. It ended the first half of its budget year last month with a potential surplus of nearly $75 million.
All but perhaps 11 states are threatened by budget deficits this year totaling $32 billion. But coal continues to yield greater than expected general tax revenues for the Mountain State.
General revenue neared $370 million in December, $2.4 million more than expected. That brought revenues for the first six months of the fiscal year nearly $75 million ahead of estimates.
The severance tax on coal and natural resources is a big reason for the ample revenues. The state is also seeing stronger than projected personal income tax collections.
