Gov. Jim Justice announced West Virginia’s General Revenue collections for September 2023, the third month of the Fiscal Year 2024, came in at more than $659.3 million, which is nearly $210 million above the estimate.
The surplus was led by strong consumer performance for personal income taxes, corporation net income taxes, and consumer sales tax. Year-to-date revenue collections of $1.165 billion stand at roughly $240 million above estimate.
"Since I walked in the door, I have tried my best to mind the store," Gov. Justice said. "So, to see our surpluses looking like this is just amazing. After passing the largest tax cut in state history, we knew that these numbers would fluctuate, but here we are, staring at a $210 million surplus. This is proof of a strengthening economy, and I could not be happier."
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