National News | Closings | Funerals | HighScore | Monday's Most Wanted | Crime Watch | TV Listings | Lottery | Bio's | FCC File | More ›
 
 
   
 
State Tax Revenues Fall Below Estimate
Written by Your 5News Team
Last updated on February 01, 2013 @ 7:45PM
Created on February 01, 2013 @ 6:50PM
 
CHARLESTON, W.Va. (AP) - West Virginia tax collections are again struggling, just as Gov. Earl Ray Tomblin prepares to propose a new state budget to the Legislature.
 
January's general tax revenues totaled more than $394 million, but were projected to exceed $406 million.
 
That means revenues so far this budget year have missed their mark by nearly $8 million. That's less than 1% of the $2.3 billion in general revenues collected to date. But officials now fear that revenues will be in the red when the budget year ends June 30.
 
Officials cite a weak energy sector, particularly coal, for the shortfall.
 
Tomblin has already warned of tough budgetary times ahead. He previously asked most state agencies to trim spending by 7.5%.

Share
Add your Comment
You must have an active WDTV.COM user account to post comments. Please login to your account, or create your free account today!

Comments (0)
5 News Most Popular
WDTV on Facebook
WDTV on Twitter
WDTV on YouTube
Contact WDTV
WDTV RSS Feeds
WDTV SMS
WDTV Mobile App