West Virginia Revenues in January Fall Short of Estimates

CHARLESTON, W.Va. (AP) – State revenue figures show West Virginia’s tax collections for January missed estimates by $18 million.

The Charleston Gazette-Mail reports that while the budget deficit is growing, it’s doing so at a slower pace.

Deputy Revenue Secretary Mark Muchow says that from July through September, year-to-date revenue collections missed estimates by $85 million. For October through January, revenues came up about $35 million short.

Year-to-date, officials say the state has missed tax collection estimates by $116 million. However, that’s $34.9 million, or 2 percent, better than the same point in January 2016.

Muchow says most major taxes came in close to or better than projections, with one big exception. Consumer sales tax collections were $26.4 million below estimates and down 13.5 percent from January 2016.

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