W.Va. tax revenues again fall below estimate - Beckley, Bluefield & Lewisburg News, Weather, Sports

W.Va. tax revenues again fall below estimate


West Virginia tax collections are again struggling, just as Gov. Earl Ray Tomblin prepares to propose a new state budget to the Legislature.

January's general tax revenues totaled more than $394 million, but were projected to exceed $406 million.

That means revenues so far this budget year have missed their mark by nearly $8 million. That's less than 1% of the $2.3 billion in general revenues collected to date. But officials now fear that revenues will be in the red when the budget year ends June 30.

Officials cite a weak energy sector, particularly coal, for the shortfall.

Tomblin has already warned of tough budgetary times ahead. He previously asked most state agencies to trim spending by 7.5%.

The governor will submit his budget proposal Feb. 13.

Copyright 2013 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.