CHARLESTON — As West Virginia wraps up the first half of fiscal year 2022, the state continues to shatter records for tax revenue and sits on a hefty surplus.

According to the Governor’s Office and data from the Senate Finance Committee, December tax collections were $506.8 million, 32.6% more than the $382.4 million the Department of Revenue estimated for the month and 32.5% more than last December.

The amount brings December’s tax revenue surplus to $124.4 million, one of the highest December revenue growth rates in nearly 40 years.

“We really have the economic engine of this state humming in a way that it hasn’t for a long, long time,” Justice said in a statement. “Month after month, we are setting record after record with our revenue collections. It’s flat out outstanding.

“The people of West Virginia should be incredibly proud of what we’ve done, and I truly believe that we are only just getting started. There’s more and more goodness to come.”

December marked the end of the first six months of fiscal year 2022 that began in July. Year-to-date tax revenue was $2.5 billion, which was 18.7% more than the $2.1 revenue estimate, resulting in a $395.9 million surplus going into the final six months of the fiscal year ending in June.

The corporate net income tax and the severance tax on coal and natural gas led the way in surplus tax revenue for December. Corporate net income tax collections for December were $79.1 million, 95.9% more than the $28 million estimate, resulting in $51 million in surplus for the month and $94.7 million in year-to-date tax surplus.

Coal and natural gas severance tax collections for December were $62.6 million, 94.3% more than $32.2 million estimate, resulting in a $30.4 million surplus for the month and $116.8 million in surplus dollars for the first half of the fiscal year. Year-to-date severance tax collections are 85% above estimates due to rising prices for commodities, such as coal.

The personal income tax and the consumer sales and use tax also saw surpluses for the month. Personal income tax collections for December were $181.8 million, 17.3% above the $155 million estimate, resulting in a $26.8 million surplus for the month and $117.4 million surplus year-to-date. Consumer sales and use tax collections for last month were $154 million, 15% above the $133.9 million estimate, resulting in a $20.1 million surplus for the month and year-to-date surplus of $65.4 million.