Va. State Revenues Increase 5.3 Pct in September - WBOC-TV 16, Delmarvas News Leader, FOX 21 -

Va. State Revenues Increase 5.3 Pct in September

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RICHMOND, Va. (AP) - Virginia tax collections increased more than 5 percent last month.

September collections complete the first quarter of the state's fiscal year and typically is a significant month for revenue collections.

The main drivers of the revenue increase were the individual income tax, the corporate income tax, and sales tax.

Officials say total revenue collections rose 6.7 percent on a fiscal year-to-date basis, well ahead of the revised annual forecast of 2.9 percent growth.

Gov. Terry McAuliffe said Tuesday that while revenue collections are up, there's reason to remain cautious. That's because Virginia has only collected about one-quarter of its general fund revenue estimate to date.
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