Pennsylvania Revenue Department Releases February Collections

HARRISBURG, Pa., March 1, 2012 /PRNewswire-USNewswire/ -- Pennsylvania collected $1.7 billion in General Fund revenue in February, which was $15.6 million, or 0.9 percent, more than anticipated, Secretary of Revenue Daniel Meuser reported today. Fiscal year-to-date General Fund collections total $15.5 billion, which is $481.6 million, or 3 percent, below estimate.

Sales tax receipts totaled $623.7 million for February, $6.5 million below estimate. Year-to-date sales tax collections total $5.8 billion, which is $35.7 million, or 0.6 percent, more than anticipated.

Personal income tax (PIT) revenue in February was $812.8 million, $36.2 million above estimate. This brings year-to-date PIT collections to $6.5 billion, which is $175.3 million, or 2.6 percent, below estimate.    

February corporation tax revenue of $64.2 million was $9.7 million, below estimate. Year-to-date corporation tax collections total $1.4 billion, which is $296.5 million, or 17.8 percent, below estimate.

Inheritance tax revenue for the month was $64.9 million, $1.8 million above estimate, bringing the year-to-date total to $525.6 million, which is $9.5 million, or 1.8 percent, below estimate.

Realty transfer tax revenue was $15.1 million for February, $1 million below estimate, bringing the fiscal-year total to $190.6 million, which is $10.8 million, or 5.4 percent, less than anticipated.

Other General Fund tax revenue, including cigarette, malt beverage, liquor and table games taxes, totaled $107 million for the month, $300,000 below estimate and bringing the year-to-date total to $980.4 million, which is $6.9 million, or 0.7 percent, above estimate.

Non-tax revenue totaled $15.6 million for the month, $4.9 million below estimate, bringing the year-to-date total to $148.3 million, which is $32.2 million, or 17.8 percent, below estimate.

In addition to the General Fund collections, the Motor License Fund received $164.8 million for the month, $5.4 million above 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 $1.6 billion, which is $8.1 million, or 0.5 percent, above estimate.

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

Media contact: Elizabeth Brassell, 717-787-6960

SOURCE Pennsylvania Department of Revenue