PA Revenue Department Releases March Collections

HARRISBURG, Pa., April 2, 2012 /PRNewswire-USNewswire/ -- Pennsylvania collected $4.1 billion in General Fund revenue in March, which was $94.7 million, or 2.4 percent, more than anticipated, Secretary of Revenue Daniel Meuser reported today. Fiscal year-to-date General Fund collections total $19.6 billion, which is $386.9 million, or 1.9 percent, below estimate.

Sales tax receipts totaled $690.6 million for March, $2.7 million above estimate. Year-to-date sales tax collections total $6.5 billion, which is $38.4 million, or 0.6 percent, more than anticipated.

Personal income tax (PIT) revenue in March was $833.6 million, $22.8 million below estimate. This brings year-to-date PIT collections to $7.3 billion, which is $198.1 million, or 2.6 percent, below estimate.    

March corporation tax revenue of $2.3 billion was $105.9 million above estimate. Year-to-date corporation tax collections total $3.6 billion, which is $190.6 million, or 5 percent, below estimate.

Inheritance tax revenue for the month was $76.5 million, $800,000 below estimate, bringing the year-to-date total to $602.1 million, which is $10.3 million, or 1.7 percent, below estimate.

Realty transfer tax revenue was $20.6 million for March, $2.2 million above estimate, bringing the fiscal-year total to $211.2 million, which is $8.6 million, or 3.9 percent, less than anticipated.

Other General Fund tax revenue, including cigarette, malt beverage, liquor and table games taxes, totaled $116.1 million for the month, $8.2 million below estimate and bringing the year-to-date total to $1.1 billion, which is $1.3 million, or 0.1 percent, below estimate.

Non-tax revenue totaled $49.4 million for the month, $15.8 million above estimate, bringing the year-to-date total to $197.7 million, which is $16.4 million, or 7.7 percent, below estimate.

In addition to the General Fund collections, the Motor License Fund received $200.9 million for the month, $7.9 million below estimate. Fiscal year-to-date collections for the fund – which include the commonly known gas and diesel taxes, as well as other license, fine and fee revenues – total $1.8 billion, which is $200,000 above estimate.

For more information, visit www.revenue.state.pa.us.

Media contact: Elizabeth Brassell, 717-787-6960

SOURCE Pennsylvania Department of Revenue