2/4/2014 8:00 AM
by Nadine Grimley
CHARLESTON - For the first time this fiscal year, state tax collections exceeded monthly projections.
Deputy Revenue Secretary Mark Muchow said that despite the surplus of $8.4 million last month, collections through the first seven months of the fiscal year were $73 million less than anticipated.
Collections for January totaled $391.7 million. Muchow said that included $15 million in taxes that were due December 31, 2013, and were posted as January revenue. Personal income tax collections were about $2.2 million ahead of January's projections, while sales taxes were $2.3 million below expectations.
Overall, yearly collections were down 1.1% compared with this time last year.