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State revenue office reports August shortfall; sales tax and interest offset weaker income and severance receipts
Summary
A revenue official told the Joint Government Finance Committee that August general fund collections totaled $398.1 million, about $10.9 million below estimate, with sales tax and interest income outperforming while personal income and severance taxes trailed expectations.
A revenue official (Speaker 1) told the Joint Government Finance Committee in Parkersburg that August general fund collections totaled $398.1 million, roughly $10.9 million below the official estimate and 3.1% below the same month last year. "The overall collections for general revenue in August were 398,100,000," the official said.
Sales tax led the gains: the official said sales receipts were about $166.2 million versus a $162.1 million estimate, a roughly 4.5% increase over August of last year. Personal income tax receipts were weaker than projected in August at about $145.4 million,…
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