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Virginia could see extra $400 million from income tax payments; Northam urges caution
Richmond Times-Dispatch: Virginia could end the fiscal year with an extra $400 million from a continuing surge in income tax payments in the aftermath of federal tax reforms, but finance officials aren’t ready to bank on a windfall they fear could disappear by autumn.
Gov. Ralph Northam said Friday that total state revenues rose in April by 17.8 percent compared with the same month a year ago, and collections grew by 6.7 percent in the first 10 months of the fiscal year, or almost double the annual forecast on which the state based its current budget.
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