September 16, 2020
 |
Seal of Virginia

RICHMOND—Governor Ralph Northam announced that August General Fund revenue collections decreased 0.2 percent from the previous year.

“Despite trying economic conditions, collections from payroll withholding and sales taxes remained steady,” said Governor Northam. “We look forward to September’s receipts, which will provide more insight into Virginia’s financial picture.”

With one less deposit day than August of last year, collections of payroll withholding taxes decreased 4.0 percent in August. Collections of sales and use taxes, reflecting July sales, grew 1.2 percent in August. Recordation taxes from real estate transactions increased by 31.3 percent.

On a year-to-date basis, collections of payroll withholding taxes—64 percent of General Fund revenues—were down 1.9 percent, below the annual estimate of a 2.4 percent increase. Sales tax collections—16 percent of General Fund revenues—grew 15.0 percent year-to-date, ahead of the forecast of a 9.7 percent decline. On a fiscal year-to-date basis, total revenue collections rose 11.6 percent in August, above the annual forecast of a 1.8 percent decline.

Take the Virginia Young Adults Survey, for Virginians age 18-25.

A special session is currently ongoing to address the state’s budget, as well as social justice issues touted by Democrats, which has no apparent end in sight.

.

Atlantic Animal Hospital

Listen Live!

WESR 103.3FM PLAY BUTTON
COASTAL COUNTRY PLAY BUTTON

Local Weather

March 29, 2024, 11:16 am
Overcast clouds
WNW
Overcast clouds
50°F
11 mph
Apparent: 48°F
Pressure: 1014 mb
Humidity: 62%
Winds: 11 mph WNW
Windgusts: 38 mph
UV-Index: 3.71
Sunrise: 6:51 am
Sunset: 7:22 pm
 

Visit our sponsors

FOLLOW US

OUR ADVERTISERS

Buchanan Subaru

Member of the

esva chamber
September 16, 2020
 |
Seal of Virginia

RICHMOND—Governor Ralph Northam announced that August General Fund revenue collections decreased 0.2 percent from the previous year.

“Despite trying economic conditions, collections from payroll withholding and sales taxes remained steady,” said Governor Northam. “We look forward to September’s receipts, which will provide more insight into Virginia’s financial picture.”

With one less deposit day than August of last year, collections of payroll withholding taxes decreased 4.0 percent in August. Collections of sales and use taxes, reflecting July sales, grew 1.2 percent in August. Recordation taxes from real estate transactions increased by 31.3 percent.

On a year-to-date basis, collections of payroll withholding taxes—64 percent of General Fund revenues—were down 1.9 percent, below the annual estimate of a 2.4 percent increase. Sales tax collections—16 percent of General Fund revenues—grew 15.0 percent year-to-date, ahead of the forecast of a 9.7 percent decline. On a fiscal year-to-date basis, total revenue collections rose 11.6 percent in August, above the annual forecast of a 1.8 percent decline.

ESVA Chamber Fest, Saturday, May 18 in Cape Charles

A special session is currently ongoing to address the state’s budget, as well as social justice issues touted by Democrats, which has no apparent end in sight.

.

Listen Live!

WESR 103.3FM PLAY BUTTON
COASTAL COUNTRY PLAY BUTTON

Local Weather

March 29, 2024, 11:16 am
Overcast clouds
WNW
Overcast clouds
50°F
11 mph
Apparent: 48°F
Pressure: 1014 mb
Humidity: 62%
Winds: 11 mph WNW
Windgusts: 38 mph
UV-Index: 3.71
Sunrise: 6:51 am
Sunset: 7:22 pm
 

Visit our sponsors

FOLLOW US

OUR ADVERTISERS

Buchanan Subaru
Throwback Thursday WESR Programming

Member of the

esva chamber