WVOW Radio – West Virginia’s revenue collections now narrowly exceed projections, leaving incoming state leaders with limited financial flexibility as they prepare to take office.
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State revenue collections are five million dollars ahead of projections, with $2.1 billion collected since the fiscal year began in July. This leaves little margin for the $5.26 billion revenue estimate for the full fiscal year ending June 30.
Acting Revenue Secretary Larry Pack described the figures as meeting expectations. He said the state is on track to meet revenue estimates despite the impact of personal income tax cuts, including a 21.25% reduction and additional cuts starting in January.
