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W.Va. tax revenue slide continues, 1st quarter collections more than $34M below estimates
Reported by: Associated Press
Wednesday, October 2, 2013 7:54 AM EDT
State tax collections in the fiscal year's first quarter are more than $34 million below estimates.
Deputy Revenue Secretary Mark Muchow tells the Charleston Daily Mail 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.
Information from: Charleston Daily Mail, http://www.dailymail.com