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Sunday, November 24, 2024

West Virginia's combined tax revenues up 18.2% from Q1 to 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

Combined tax revenues in West Virginia increased 18.2% in the second quarter of 2023 in comparison to the previous quarter, according to the U.S. Census Bureau’s Quarterly Summary of State and Local Taxes.

Overall, West Virginia collected $2.1 billion in taxes during the second quarter of 2023, compared to $1.8 billion in the previous quarter.

The majority of the state’s tax revenue was collected through income taxes ($1 billion) and general sales and gross receipts taxes ($894 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.

Q2 West Virginia Tax Collections
Type of TaxAmount (millions)
Income Taxes$1,045
Sales and Gross Receipts Taxes$894
Other Taxes$97
License Taxes$60
Property Taxes$1
Source: U.S. Census Bureau

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