August Taxes Might Suggest Growth for WV Economy
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Updated: 5:46 PM Sep 2, 2010
August Taxes Might Suggest Growth for WV Economy
CHARLESTON, W.Va. (AP)
West Virginia state government collected $31 million more in taxes last month than expected, suggesting signs of a rebounding economy.
Posted: 8:00 PM Sep 2, 2010
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West Virginia state government collected $31 million more in taxes last month than expected, suggesting signs of a rebounding economy.

General revenues totaled $309 million in August, beating the $278 million estimate.

Sales and personal income taxes provide nearly 70 percent of general revenues. Both taxes exceeded their monthly projections as well as their August 2009 collections.

Manchin administration officials call the results impressive, and say they suggest economic growth.

Severance taxes on coal and other natural resources were also better than expected. Officials say coal production is up for the fifth straight month. Coal prices have increased as well.

The new budget year began July 1. The state expects $3.7 billion by its June 30 end.

©2010 The Associated Press. All rights reserved.
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