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Saturday, November 23, 2024

West Virginia’s combined tax revenues down 11% in Q4 compared to same quarter of the previous year

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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 $1.6 billion in income, license, miscellaneous other, property and sales and gross receipts taxes during the fourth quarter of 2023, according to the U.S. Census Bureau's Quarterly Summary of State and Local Taxes.

This is an 11% decrease from the same quarter the previous year when combined tax revenues were $1.8 billion.

The majority of the state’s tax revenue was collected through sales and gross receipts taxes ($840 million) and income taxes ($659 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 it sets the tax classifications among the survey categories, and they may differ from the classifications set by the state governments. Also, not all states collect all types of taxes.

Q4 West Virginia Tax Collections

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

Source: U.S. Census Bureau

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