Despite all the problems that the Federal government and most state governments are having living within their means, it turns out Virginia ended the fiscal year on June 30th with a surplus of $220 million dollars.
Finance Secretary Richard D. Brown said that preliminary June revenue figures show that the surplus resulted mostly from strong collections of individual and corporate income taxes.
In turns out that corporate income tax receipts of $157 million for June increased by 14.2 percent over the same month the year before. And tax revenue withheld from workers went up by 2.5 percent.
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