CHARLESTON, W.Va. (WVDN) – Today, Governor Patrick Morrisey announced that West Virginia’s February FY2026 General Revenue Fund collections once again exceeded expectations, reflecting continued economic strength and responsible financial management across the state.
“I’m encouraged by the continuing growth in overall collections,” Governor Morrisey said. “Current trends bode well for a significant year-end surplus in comparison to the estimates for this year.”
February collections totaled $379 million, coming in $50 million above estimate and 6.7% higher than collections from February of last year. Year-to-date collections have now surpassed $3.612 billion, placing the state $159 million above the revenue estimate and 2.9% ahead of prior year levels.
Governor Morrisey highlighted several key revenue drivers:
Personal Income Tax: February collections reached $109 million, which is $31 million above estimate and 7.8% higher than last year. Year-to-date totals exceed $1.404 billion, outperforming estimates by more than $73 million despite tax rate cuts and the introduction of the refundable motor vehicle tax credit.
Consumer Sales Tax: February collections totaled $155.2 million, up 8.4% from last year and $2.3 million above estimate. Year-to-date collections stand at $1.301 billion, exceeding expectations by $31.3 million.
Severance Tax: Collections of more than $57 million in February were significantly above estimate by $24.6 million, buoyed in part by an early-February carryover. Year-to-date totals of $261.3 million are 35.2% higher than the previous year.
Corporation Net Income Tax: February collections reached $5.6 million, $1.8 million above estimate, contributing to year-to-date totals of $178.6 million.
Tobacco Excise Tax: February collections totaled $11.5 million, with year-to-date totals of $90.8 million, reflecting a continued shift in consumer purchasing patterns.
Insurance Premium Tax: February collections were $2.9 million, impacted by a larger-than-expected shift of payments into March.
Interest Income: February collections of $11.6 million brought year-to-date totals to $102.1 million, performing $25.6 million above estimate.
Governor Morrisey also extended heartfelt recognition to Deputy Revenue Secretary Mark Muchow, who is retiring this month after more than 44 years of service to the State of West Virginia.
“I would like to acknowledge the tremendous commitment and dedication we have received from Deputy Revenue Secretary Mark Muchow,” Governor Morrisey said. “Mark has been directly responsible for setting our state’s revenue estimates for more than 35 years, and his contributions have been invaluable. Join me in thanking Mark and wishing him the very best in retirement.”
