Quantcast

Mountain State Times

Saturday, December 21, 2024

West Virginia's combined tax revenues down 8.6% in Q2 compared to same quarter of the previous year

Webp 4zaxz4dfx2u62hvwwsqwriodwon9

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 $1.9 billion in income, license, miscellaneous other, property and sales and gross receipts taxes during the second quarter of 2024, according to the U.S. Census Bureau's Quarterly Summary of State and Local Taxes.

This represents an 8.6% decrease from the same quarter of the previous year, when combined tax revenues were $2.1 billion.

The majority of the state's tax revenue was collected through sales and gross receipts taxes ($916 million) and income taxes ($811 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.

Q2 West Virginia Tax Collections

Type of TaxAmount (millions)
Income Taxes$811
License Taxes$60
Other Taxes$127
Property Taxes$2
Sales and Gross Receipts Taxes$916

Source: U.S. Census Bureau

ORGANIZATIONS IN THIS STORY

!RECEIVE ALERTS

The next time we write about any of these orgs, we’ll email you a link to the story. You may edit your settings or unsubscribe at any time.
Sign-up

DONATE

Help support the Metric Media Foundation's mission to restore community based news.
Donate

MORE NEWS