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Virginia finishes FY21 with record $2.6B surplus
Revenue collections surged 26.4% between April and June
Virginia reached the end of fiscal year 2021 with a $2.6 billion surplus, the largest in the commonwealth’s history, according to a statement released by Virginia Gov. Ralph Northam on
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State sees historic 66.2% General Fund revenue increase in May
Northam taps new secretary of finance upon Layne's departure
Published
The state’s General Fund revenue rose 66.2% in May 2021 compared with May 2020, Gov. Ralph Northam announced Friday, the largest increase in more than 50 years. He also announced
Va. General Fund revenue jumped 18.5% in March
Total revenue collections rose 9%
Published
Virginia’s General Fund revenue for March 2021 increased by 18.5% compared with March 2020, Gov. Ralph Northam announced Tuesday. Total revenue collections rose 9% through March on a fiscal year-to-date
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Northam announces $730.2M state revenue forecast increase
Va. revenues to jump to $46.7B over next two years
Published
Gov. Ralph Northam’s revised budget released Monday shows that the commonwealth expects a $730.2 million increase in this year’s revenues forecast over December 2020, from $46 billion to more than
Va. General Fund revenue dropped 2.4% in January
Total revenue collections rose 6%, however
Published
Virginia’s General Fund revenue for January 2021 decreased 2.4% compared with January 2020, Gov. Ralph Northam announced Thursday. Total revenue collections rose 6% through January on a fiscal year-to-date basis,
Va. General Fund revenue increased 15.1% in December 2020
Increase driven by payroll withholding, corporate income tax, sales and use tax
Published
Virginia’s General Fund revenue for December 2020 increased 15.1% compared with December 2019, Gov. Ralph Northam announced Wednesday. Total revenue collections rose 7.8% through December on a fiscal year-to-date basis,
State General Fund revenue down only 0.2% in August
Sales and use tax collections saw increase
Published
Despite the pandemic, Gov. Ralph Northam announced Thursday that August General Fund revenue collections decreased only 0.2% compared to the same time last year. “Despite trying economic conditions, collections from
State General Fund revenues fell 20.6% in May
But losses were lower than expected, finance secretary says
Published
Due to the economic impacts of COVID-19, state General Fund revenue collections fell 20.6% in May, compared to May 2019, Gov. Ralph Northam announced Thursday. However, he noted in his