BREAKING NEWS

BREAKING NEWS

West Virginia reports tax collections again below estimates

CHARLESTON, W.Va. (AP) — West Virginia tax authorities say the state collected almost $330 million in December and $1.86 billion for the first six months of the current fiscal year, both lower than budget estimates.
The Department of Revenue reports shortfalls of $6.7 million for the month and $98.2 million for the six-month period in the current $4.1 billion budget.
Gov. Earl Ray Tomblin has taken steps to close this year’s shortfalls, ordering a 2 percent budget cut for most West Virginia government agencies.
Secretary of Revenue Robert Kiss says Tomblin, who leaves office this month, will propose on Wednesday a budget for next year that would close a projected $400 million deficit.
Deputy Secretary Mark Muchow says taxes on mining, drilling and timber rose in December reflecting higher natural gas prices.