Pennsylvania Revenue Department Releases February Collections

HARRISBURG, March 1, 2011 /PRNewswire-USNewswire/ -- Pennsylvania collected $1.5 billion in General Fund revenue in February, which was $20.7 million, or 1.3 percent, less than anticipated, the Department of Revenue reported today. Fiscal year-to-date General Fund collections total $15.2 billion, which is $243.2 million, or 1.6 percent, above estimate.

Sales tax receipts totaled $573.9 million for February, $7.6 million below estimate. Year-to-date sales tax collections total $5.5 billion, which is $100.1 million, or 1.8 percent, more than anticipated.

Personal income tax (PIT) revenue in February was $671.4 million, $23.7 million below estimate. This brings year-to-date PIT collections to $6.3 billion, which is $65.7 million, or 1.1 percent, above estimate.

February corporation tax revenue of $80.3 million was $11.7 million above estimate. Year-to-date corporation tax collections total $1.4 billion, which is $104.1 million, or 7.9 percent, above estimate.

Inheritance tax revenue for the month was $62 million, $5.1 million above estimate, bringing the year-to-date total to $500.7 million, which is $8.4 million above estimate.

Realty transfer tax revenue was $15.2 million for February, $500,000 below estimate, bringing the fiscal-year total to $187.8 million, which is $33.4 million less than anticipated.

Other General Fund tax revenue, including cigarette, malt beverage, liquor and table games taxes, totaled $104 million for the month, $8.2 million below estimate and bringing the year-to-date total to $953.4 million, which is $16.4 million below estimate.

Non-tax revenue totaled $23.7 million for the month, $2.5 million above estimate, bringing the year-to-date total to $363.8 million, which is $14.8 million above estimate.

In addition to the General Fund collections, the Motor License Fund received $135.6 million for the month, $24.7 million below estimate. Fiscal year-to-date collections for the fund total $1.7 billion, which is $160.7 million, or 10.6 percent, above estimate.

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

Media contact: Elizabeth Brassell, 717-787-6960

SOURCE Pennsylvania Department of Revenue