Gov. Justice reports December 2020 revenue collections

1/4/2021

CHARLESTON, WV – At his latest COVID-19 briefing on Monday, Gov. Jim Justice reported December 2020 general revenue collections data.


The following is a full summary of December General Revenue Fund collections:


  • December General Revenue Fund collections of slightly more than $382.2 million were $4.6 million below estimate.

  • Year-to-date collections of more than $2.319 billion were $127.2 million above estimate and 5.3% above prior year receipts.

  • Cumulative collections were more than $115.9 million above prior year collections due to the deferral of $200 million in income tax receipts from the prior fiscal year. 


A summary by major component follows:

 

  • Consumer sales tax collections rose by 2.4% in December, as monthly collections of $130.4 million were $0.2 million above estimate. Cumulative collections of $722.0 million were $25.9 million above estimate and 5.7% above prior year receipts.

  • Personal income tax collections totaled $159.5 million in December. Collections were $10.8 million below the monthly estimate. Cumulative personal income tax collections were $34.8 million above estimate and 11.3% ahead of last year.

  • Corporation net income tax collections totaled $40.4 million in December. Collections were $18.4 million above estimate and 32.7% above prior year receipts. Cumulative collections totaled $159.0 million as compared with $97.6 million in the prior year.

  • December severance tax collections totaled $15.6 million and cumulative collections totaled $69.8 million. Collections for the year-to-date were $8.2 million below estimate.

  • Tobacco products tax collections totaled $16.8 million in December and cumulative collections totaled $89.2 million. Cumulative collections were $7.5 million above estimate and 4.2% above prior year receipts.

  • December business and occupation tax collections totaled $9.1 million and cumulative collections totaled $60.1 million. Cumulative collections were $2.5 million below estimate and 10.9% below prior year receipts.


Contact Information

Jordan Damron, jordan.l.damron@wv.gov

Contact

Office of the Governor
State Capitol, 1900 Kanawha Blvd. E
Charleston, WV 25305

Office Phone:
304.558.2000 or 1.888.438.2731

Governor's Mansion:
304.558.3588

Flag Status

American Flag Full Staff
State Flag Full Staff
 

Banner Images Courtesy of the West Virginia Department of Commerce

Site Map