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Saturday, November 23, 2024

Q3 2023: West Virginia's combined tax revenues down 28.1% since Q2 2023

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West Virginia Tax Commissioner Matthew Irby | West Virginia State Tax Department

West Virginia Tax Commissioner Matthew Irby | West Virginia State Tax Department

West Virginia collected $1.5 billion in total tax revenues during the third quarter of 2023, according to the U.S. Census Bureau's Quarterly Summary of State and Local Taxes.

These tax revenues stem from various sources, including property tax, sales and gross receipts tax, licenses, income tax, and miscellaneous tax.

The majority of the state’s tax revenue was collected through general sales and gross receipts taxes ($807 million) and income taxes ($552 million).

In addition to detailed tax revenue data from each state, the Quarterly Summary of State and Local Government Tax Revenue includes an estimate of state and local government tax revenue at a national level.

The Census Bureau cautions that it sets the tax classifications among the survey categories, and they may differ from the classifications set by the state governments.

Q3 2023 West Virginia Tax Collections
Type of TaxAmount (millions)
Sales and Gross Receipts Taxes$807
Income Taxes$552
Other Taxes$92
License Taxes$46
Property Taxes$3

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