West Virginia News, Wheeling Intelligencer – Officials with the West Virginia Department of Revenue pushed back Monday against criticisms that record-breaking tax revenue surpluses are due to lowballing the revenue estimates that determine the annual state budget.
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Dave Hardy, cabinet secretary for the Department of Revenue, briefed members of the Joint Committee on Finance Monday on the second day of January interim meetings prior to the start of the 2023 legislative session on Wednesday.
December tax collections for the general revenue fund came in at $552.5 million, 35.8% more than the $407 million estimate from the Department of Revenue, resulting in $145.6 million in surplus tax revenue for the month.
