FOR IMMEDIATE RELEASE
Thursday, January 2, 2025
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Gov. Justice announces nearly $37 million surplus after December revenue collections
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CHARLESTON, WV — Gov. Jim Justice announced that West Virginia recorded a $36.7 million surplus in December, the sixth month of Fiscal Year 2025, with total revenue collections surpassing $575.2 million.
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“West Virginia continues to prove what happens when you make the right decisions and put our people first,” Gov. Justice said. “These surpluses haven’t happened by accident – they’re proof of our state’s momentum and growth. Throughout my administration, we’ve shown the nation that West Virginia is a place where businesses can thrive, families can succeed, and opportunities are endless. This kind of success isn’t built overnight—it’s the result of years of hard work, smart fiscal management, and a commitment to excellence. I’m incredibly proud of how far we’ve come, and I have no doubt that the best days for West Virginia are still ahead of us.”
Additional December revenue highlights include:
- Personal income tax collections exceeded estimates by $11.4 million, with year-to-date collections surpassing $1.08 billion.
- Corporation net income tax collections exceeded estimates by $18.4 million, with year-to-date collections totaling $177.8 million.
- Severance tax collections exceeded estimates by $13.8 million, with year-to-date collections totaling $127.6 million.
- A one-time $23.4 million miscellaneous transfer contributed to the overall surplus for the month.
- Year-to-date revenue collections exceeded estimates by $41.7 million, totaling more than $2.676 billion for the first half of the fiscal 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.
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