Gov. Jim Justice announced today that West Virginia’s General Revenue collections for July 2023, the first month of Fiscal Year 2024, came in at a very respectable $7.7 million above estimates with total collections of $335 million. Personal Income Tax collections for July were $13.9 million above estimate with collections of $145.6 million. Corporation Net Income Tax collections of $19 million were $8.5 million above estimate and 31.7% ahead of last year. The other major sources of General Revenue for July included Consumer Sales Tax, Insurance Premium Tax, and Tobacco Products Excise Tax. The State collected $93.6 million in Consumer Sales Tax, $25.5 million in Insurance Premium Tax revenues, and $13.7 million in Tobacco Products Excise Tax. Due to a considerable drop in coal and natural gas prices, severance tax income for the month predictably decreased.