Despite coal production slowing and severance taxes heading downward, state sales tax revenues are surprisingly high, according to West Virginia Deputy Revenue Secretary Mark Muchow. He says withholding taxes are up more than nine percent and personal income tax and sales tax revenues were both above where state officials estimated they would be for the month. Muchow says he expects coal production to continue to slow through 2012 and into the next fiscal year. The state's general revenue fund had an $8.6 million shortfall in March, but according to Muchow the state is still on track for a sizable surplus this year. For more click here
Featured