Tuesday, July 01, 2008
Energy Market Reason For West Virginia's Surplus.
West Virginia Tax Department Revenue Spokesperson Mark Muchow says that state’s economic growth is due to the gas and natural gas market.
Muchow says that over the last six months energy severance tax collections increased by twenty-three percent.
Muchow says that the price of coal has gone from $ 45 to over $ 100 per ton.
Corporate Net Income Tax collections are down nine percent the last three months and Interest Income Tax accounts are down more than thirty-eight percent the last four months.
Muchow says that state ended the fiscal year with approximately $ 3.9 billion in overall tax collections, which is nearly $ 109 million above original estimates.
Muchow says that over the last six months energy severance tax collections increased by twenty-three percent.
Muchow says that the price of coal has gone from $ 45 to over $ 100 per ton.
Corporate Net Income Tax collections are down nine percent the last three months and Interest Income Tax accounts are down more than thirty-eight percent the last four months.
Muchow says that state ended the fiscal year with approximately $ 3.9 billion in overall tax collections, which is nearly $ 109 million above original estimates.
# posted by Joe Kinzer @ 2:14 PM 
