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Wednesday, December 18, 2024

West Virginia's miscellaneous tax revenues down 50% in Q4 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 $46 million in miscellaneous tax revenue during the fourth quarter of 2023, a 50% decrease from the previous quarter, according to the U.S. Census Bureau's Quarterly Summary of State and Local Taxes.

Miscellaneous tax revenue reached $92 million in the previous quarter.

Net sales reflect companies' total revenue stream, minus the costs of discounts, allowances and product returns.

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.

Q4 2023 West Virginia Tax Collections

Type of TaxAmount (millions)
Property Taxes$2
Sales and Gross Receipts Taxes$840
Income Taxes$659
License Taxes$35
Miscellaneous Taxes$46

Source: U.S. Census Bureau

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