Va. Tax Collections Up for 1st Quarter


Tax collections in Virginia are up 2.6 percent compared to the same time last year.

CBS / AP

Oct. 11, 2013

Virginia's September tax collections finished up 2.6 percent over the same month a year earlier, ending the first quarter of the state fiscal year ahead of the Commonwealth's budgeted growth forecast.

For the first three months of fiscal year 2014, the state has collected $3.7 billion in general taxes that fund core services such as education, health care and public safety.

The most broadly paid tax withheld from paychecks was up by nearly 3 percent from September of 2012. Individual withholding income taxes accounts for about two-thirds of all general revenues. Corporate income taxes for the month were up by 16.7 percent.


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