Charleston Gazette-Mail – West Virginia’s revenue collections for November were $404.8 million, $44 million above estimates, according to a monthly budget report released by Gov. Jim Justice. Fiscal year-to-date collection from July to November stands at $2.2 billion, exceeding estimates by $286.2 million.
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“Even as inflation continues to throw us a curveball, our state’s fiscal strength is shining through,” Justice said in a news release. “Surpassing cumulative revenue estimates by $286.2 million just five months into the fiscal year showcases the strength of our diversified economy. Those that said cutting our personal income tax was a bad idea are being proven wrong month after month.”
However, when comparing November’s actual tax collection to the same month last year, the report showed several categories on a downward trend.