Va. Tax Collections Show Whopping January Uptick

By: Associated Press
By: Associated Press

RICHMOND, Va. (AP) -- Virginia's tax collections for January are almost one-fifth greater than they were for the same month a year ago. Strong income tax collections, a quirk of the calendar and delayed refunds all contributed to the increase.

The $1.8 billion in general fund receipts last month is 19.5 percent greater than the $1.5 billion taken in during January 2012.

Taxes withheld from paychecks increased by 17.5 percent for the month. That accounts for nearly two-thirds of general taxes that fund core services such as schools, police and health care.

Taxes paid by the self-employed and investors jumped nearly 43 percent. That accounts for 15 percent of general taxes.

Last month offered one more deposit day than January 2012.

Refunds declined from $97 million the previous January to $30 million last month. is happy to provide a forum for commenting and discussion. Please respect and abide by the house rules:

Keep it clean, keep it civil, keep it truthful, stay on topic, be responsible, no links, share your knowledge, and please suggest removal of comments that violate these standards.

powered by Disqus
50 North Main Street Harrisonburg, VA 22801 540-433-9191 - Switchboard 540-433- 4028 - Fax 540-433-2700 - News Fax

WSVF Public Inspection File

Gray Television, Inc. - Copyright © 2002-2014 - Designed by Gray Digital Media - Powered by Clickability 190846441 -