April 4th, 2023 by WCBC Radio

Gov. Jim Justice has announced that West Virginia’s General Revenue collections for March 2023 are $159 million above estimates and 6.1% ahead of prior year receipts. March Personal Income Tax collections totaled $200.3 million. Collections exceeded the monthly estimate by $48.1 million. Consumer Sales Tax collections of $139.7 million were $22.5 million above estimate in March and 10.4% ahead of prior March collections.  Corporation Net Income Tax collections totaled nearly $18.5 million in March. Monthly collections were nearly $15.5 million above estimate. The surplus comes on the heels of the state’s largest tax cut in history that was signed into law in early March of this year.