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Virginia Boasts Revenue Surplus
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| Contributor | Jason |
| Last Edited | Jason Jul 15, 2010 03:55am |
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| Category | General |
| News Date | Wednesday, July 14, 2010 11:10:00 PM UTC0:0 |
| Description | Governor Bob McDonnell announced today that the Commonwealth of Virginia posted a preliminary revenue surplus at the conclusion of the 2010 fiscal year on June 30th.
The Governor estimated the surplus, after miscellaneous interest payments are distributed, will be at least $220 million.
The primary source of the surplus comes from individual withholding and non-withholding and corporate income tax receipts.
As of January, the Commonwealth faced a $1.8 billion budget shortfall for the remainder of FY 2010. |
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