West Virginia Revenue Collections Top Estimates by More Than $313 Million Through May
CHARLESTON, W.Va. — West Virginia's revenue collections continued to outperform expectations in May, with the state collecting more than $313 million above estimates through the first 11 months of Fiscal Year 2026.
According to a new report released by the West Virginia Senate Finance Committee, total General Revenue collections reached $5.124 billion through the end of May, surpassing the year to date estimate of $4.811 billion by more than $313.6 million.
May alone generated nearly $381.5 million in General Revenue collections, exceeding monthly estimates by approximately $44.5 million.
Several of the state's largest revenue sources also finished the month ahead of projections.
Personal Income Tax collections totaled nearly $1.942 billion through May, exceeding estimates by approximately $110.6 million. The report also showed the state's Personal Income Tax Reserve Fund balance stood at $460 million.
Severance tax collections reached more than $471.3 million through May, exceeding estimates by approximately $106.6 million. According to the report, severance tax collections have already reached 118 percent of the state's annual estimate with one month remaining in the fiscal year.
Consumer Sales and Use Tax collections also remained strong, totaling more than $1.769 billion through May and exceeding estimates by approximately $37 million.
The report also highlighted the state's reserve accounts. As of May 31, West Virginia's combined Rainy Day Fund balance stood at more than $1.46 billion, an increase of approximately $122 million compared to the same time last year.
With one month remaining in Fiscal Year 2026, West Virginia has already collected approximately 96 percent of its projected annual General Revenue estimate while continuing to outperform expectations in several of its largest revenue categories. The figures were released this week by the West Virginia Senate Finance Committee as part of its monthly review of state revenue collections.
