State Budget $6M Above Target

• {West Virginia}...West Virginia's new state budget has started its fiscal year $6M above target. State government collected $292 million from general taxes last month. That's $6 million more than expected for July as taxes on sales and personal income slightly exceeded projections, corporate net income and business franchise tax revenues were nearly twice what was expected, and severance taxes on coal and other natural resources were close to their target, but fell 5 percent below target. The state expects to collect $4.015 billion in general tax revenues during the budget year that began July 1st. It ended the previous budget year with a surplus that exceeded $320 million.