Virginia tax coffers continue to overflow; surplus expected

Virginia News

RICHMOND, Va. (AP/WFXR) — Virginia state government continues to bring in more revenue than expected.

A new report shows the state has brought in more than 98 percent of its anticipated annual revenue even with a few weeks still remaining in the fiscal year.

The monthly revenue report issued Friday by Virginia Secretary of Finance Aubrey Layne shows that through the first 11 months of the fiscal year, the state has brought in $22 billion in revenue.

Projected revenue for the entire fiscal year, which ends June 30, is $22.3 billion.

That puts the state on course for a revenue surplus exceeding $1 billion.

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