CHARLESTON, W.Va. (WVDN) – Governor Patrick Morrisey announced that General Revenue Fund collections in January continued to reflect strong fiscal performance, with overall revenues exceeding prior-year levels and remaining ahead of year-to-date estimates.
January 2026 collections totaled $490.8 million, representing a 2.7% increase over January of the prior year. While January was $19.3 million below the $510.1 million monthly estimate, cumulative collections exceeded $3.233 billion, which is $108.8 million above the year-to-date estimate of more than $3.1 billion and 2.5% higher than last year’s collections.
While Severance Tax collections fell below the monthly estimate of $17.6 million, payments due at the end of each month can vary significantly based on timing. Officials anticipate the lower-than-expected January payments will be offset by higher receipts in February. Notably, coal and natural gas sales continue to exceed last year’s levels, and natural gas prices are up more than 50% on average. As a result, January Severance Tax collections increased 57.8% over last January, and year-to-date collections of $204.2 million are 38.4% ahead of last year, despite being $17.1 million below estimate.
“These results reflect a resilient economy and responsible fiscal management,” Governor Morrisey said. “Even with monthly fluctuations, West Virginia continues to outperform expectations, and we are well-positioned to finish the fiscal year with a meaningful surplus. That puts us in a strong position to protect taxpayers, invest in priorities, and keep our state moving in the right direction.”
Personal Income Tax collections totaled $225.4 million in January and more than $1.295 billion year-to-date. Year-to-date collections exceeded estimates by $42.1 million and were just .2% below prior-year receipts, despite tax rate reductions and the implementation of the refundable motor vehicle tax credit. January collections were 3.6% higher than last January, even as tax rates for the first half of the fiscal year were nearly six percent lower than those in effect last year.
Additionally, Consumer Sales Tax collections reached $167.0 million in January, exceeding prior-year January collections by 2.1% and surpassing estimates by $1.0 million. Cumulative collections of $1.146 billion were nearly $29.0 million above estimate and 8.9% higher than last year. These totals include $39 million associated with a recently enacted law eliminating a payment acceleration requirement for certain taxpayers. Adjusted year-to-date collections were 5.2% ahead of last year.
Corporation Net Income Tax collections totaled $17.8 million in January and $173.0 million year-to-date. January collections exceeded estimates by $1.3 million, while cumulative collections were $8.3 million above estimate.
Tobacco Excise Tax collections amounted to $9.7 million in January and $79.3 million year-to-date, falling $4.4 million below estimate and 5.8% below prior-year collections, reflecting continued shifts away from cigarette consumption toward other tobacco and vaping products.
Interest Income totaled $11.8 million in January and $90.5 million year-to-date. Cumulative collections were $21.5 million above estimate but 25.5% below last year, due to lower prevailing interest rates.
