CHARLESTON, WV (LOOTPRESS) — West Virginia’s General Revenue Fund collections soared to nearly $643.8 million in April, exceeding estimates by $136 million and topping last year’s receipts by 1.4%. The boost came primarily from stronger-than-expected personal income tax payments, which rose 23% over last April.
According to state officials, the “April surprise” stemmed from a wave of annual return payments due April 15, along with reduced tax refund payouts. Corporate net income taxes also contributed, coming in nearly $30 million above estimate, aided by a $19 million drop in refunds compared to last year.
“Today’s revenue report is good news for West Virginia,” said Governor Patrick Morrisey, noting that the surplus strengthens the state’s ability to tackle fiscal pressures like PEIA funding and potential federal tax policy shifts. “We must continue budgeting conservatively and protecting our reserves.”
So far this fiscal year, the state has collected $4.592 billion, putting it $237 million over projections, though still 2.4% below last year’s pace. Key highlights include:
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Personal Income Tax: $284.7M in April (+$88M above estimate); year-to-date $1.82B (+$99.1M over estimate)
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Consumer Sales Tax: $135.1M in April (+6.1% YoY); year-to-date $1.473B
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Corporate Net Income Tax: $100.3M in April (+$29.8M over estimate); YTD $328.6M
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Severance Tax: $43.8M in April (+$8.4M over estimate, -13.2% YoY); YTD $299.7M
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Insurance Premium Tax: $31.4M in April; YTD $130.6M (+10.3% YoY)
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Interest Income: $14.3M in April; YTD $159.9M (+$47.7M over estimate, -15.7% YoY)
While energy prices and shifting federal policy continue to influence trends, officials say the current surplus offers breathing room as budget planning moves forward.
A full summary of April FY 2025 revenue is available here.
