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Tag: revenue report

Virginia Governor Releases December 2020 Revenue Report
Politics

Virginia Governor Releases December 2020 Revenue Report

General Fund revenue collections up 15.1 percent from previous year and fiscal year-to-date collections up 7.8 percent, payroll withholding, corporate income tax, sales and use taxes, and recordation tax posted strong gains RICHMOND, VA (STL.News) Governor Ralph Northam today announced that total General Fund revenues rose 15.1 percent in December, driven by solid growth in payroll withholding, corporate income tax, sales and use taxes, and recordation tax collections.  On a fiscal year-to-date basis, total revenue collections rose 7.8 percent through December, well ahead of the annual forecast of 1.2 percent growth. “Our diligence in following our long-term financial plan has put Virginia in a stronger position to weather this health crisis and ensure a sustainable recovery,” said Gov...
Virginia Governor: October 2020 Revenue Report
Politics

Virginia Governor: October 2020 Revenue Report

General Fund revenue collections down 2.7 percent from previous year and fiscal year-to-date collections up 6.7 percent, growth in sales and use taxes and recordation tax collections offset expected decline in payroll withholding RICHMOND, VA (STL.News) Governor Ralph Northam today announced that General Fund revenues fell 2.7 percent in October with solid growth in sales and use taxes and recordation tax collections offsetting an expected decline in payroll withholding. “This month’s revenue report shows that Virginia is on sound financial footing despite the ongoing COVID-19 pandemic,” said Governor Northam.  “We must stay focused on beating this virus first and foremost, so we can remain on a road to recovery and continue moving our Commonwealth forward.” Regular monthly collections a...
Virginia Governor Northam Announced Releases September 2020 Revenue Report
Politics

Virginia Governor Northam Announced Releases September 2020 Revenue Report

General Fund revenue collections up 7.6 percent from previous year and fiscal-year-to-date collections up 9.9 percent, gains driven by payroll withholding, corporate, and recordation tax collections RICHMOND, VA (STL.News) Governor Ralph Northam today announced that September General Fund revenue increased 7.6 percent from the previous year, driven by growth in payroll withholding, corporate, and recordation tax collections. “Virginia’s General Fund revenues are increasing, and we have been able to avoid the major revenue shocks that other states are experiencing because of the ongoing pandemic,” said Governor Northam.  “This is the result of the proactive measures we have taken to mitigate the impacts of the virus on our economy and put the Commonwealth on the path toward a strong recove...