W.Va. Revenues Down $27m, Officials Blame Timing

By: Associated Press
By: Associated Press

Charleston, W.Va. (AP) -- West Virginia State Tax Revenues took a $27 million hit last month, but officials say an economic recession is not to blame.

The state closed its books on Nov. 26, before the extended holiday weekend. But most businesses had until Sunday to pay what they owed.

As a result, those last-minute payments will show up for December.

They include revenue from the severance tax on such extracted natural resources as coal and natural gas.

The severance tax has been a major driver behind higher than projected collections since the budget year began July 1.

But it yielded just $18.7 million as of Nov. 26, nearly $14.8 million less than expected.

November's general revenue topped $252.2 million.

Collections so far this year are $72.6 million above estimate.

(Copyright 2008 by the Associated Press. All rights reserved.)

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