Virginia’s General Fund Revenue collections for October exceeded budget forecasts at a 10.3% year-over-year increase. That included the issuance of an additional $88 million in taxpayer rebates. Adjusting for these tax reductions general fund revenues were up 8.3% in the first four months of the fiscal year. Year-over-year growth was driven by growth in payroll withholding, individual income nonwithholding collections, and sales and use tax revenues. Growth in sales tax collections primarily reflects the impact of heightened inflation.