FOR IMMEDIATE RELEASE
Monday, December 2, 2024
|
|
|
Gov. Justice announces nearly $20 million surplus after November revenue collections
|
|
|
CHARLESTON, WV — Gov. Jim Justice announced that West Virginia’s revenue collections surpassed $400.4 million in November, the fifth month of Fiscal Year 2025, exceeding estimates by $18.8 million.
|
|
‘We are watching West Virginia continue to grow, and we are excited about the future," Gov. Justice said. "We've cut over a billion dollars in taxes. That's not just for one year. That's forever. Even with these tax cuts, West Virginia continues to perform well and succeed. My term is almost over. We should certainly celebrate some of these big wins. But I would urge you to support our current and future leaders. Push us to keep making things better and better. It was really tough digging ourselves out of the massive hole. But we've done it. We are producing surplus after surplus, and today is more proof of that. There's no reason for us to slow down.”
Additional November revenue highlights include:
- Personal income tax collections exceeded estimates by $8.3 million and prior year amounts by 7.7%.
- Consumer sales tax collections exceeded estimates by $5.4 million and prior year amounts by 5.5%.
- Corporation net income tax collections exceeded estimates by $10.9 million and prior year amounts by 63.8%.
- Year-to-date severance tax collections are 14.5% ahead of prior year.
For more detailed information, you can access the monthly revenue and cash flow reports from the West Virginia State Budget Office by clicking here.
|
|
|
|
