State tax revenues continue decline
CHARLESTON, W.Va. -- State tax collections in the fiscal year's first quarter are more than $34 million below estimates.
Figures from the State Budget Office show that tax collections declined for the fifth consecutive month in September. September's tax collections were about $2 million below estimates.
Deputy Revenue Secretary Mark Muchow says that the decline is due to sluggish wages and consumer spending.
First-quarter personal income tax collections are down 4.6 percent from the previous fiscal year. Sales tax collections since July are down about $943,000.
Muchow says the state will need revenue growth of at least 2.8 percent over the next nine months to avoid a deficit.