W.Va. revenues still above estimates amid turmoil

CHARLESTON, W.Va. - While other state government have been rocked by the global financial crisis, the latest tax revenue figures suggest West Virginia continues to weather the storm.

The state's general revenue for October totaled $326 million, more than $9 million more than projected.

The energy market remains the driving force behind these revenue figures. Severance taxes on coal and natural gas brought in $52.7 million last month, nearly twice the estimate.

Consumer sales tax revenues were $6.5 million lower than expected, but they're up nearly 50 percent from September.

Four months into the state's budget year, revenues have so far exceeded projections by $99.6 million. Half of any revenues above estimates once the fiscal year ends June 30 go into the state's emergency reserve fund.

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