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Wednesday, November 27, 2024

West Virginia's license tax revenue up 22.9% in Q1 compared to previous quarter

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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 $43 million in license taxes during the first quarter of 2024, according to the U.S. Census Bureau's Quarterly Summary of State and Local Taxes.

This represents a 22.9% increase over the previous quarter, when license tax revenue was $35 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.

Overall, West Virginia collected $1.5 billion in combined tax revenues in Q1.

Q1 West Virginia Tax Collections

Type of TaxAmount (millions)
Income Taxes$502
License Taxes$43
Other Taxes$141
Property Taxes$2
Sales and Gross Receipts Taxes$844

Source: U.S. Census Bureau

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