Pennsylvania Revenue Department Releases February Collections

HARRISBURG, Pa., March 1 /PRNewswire-USNewswire/ -- Acting Secretary of Revenue C. Daniel Hassell today reported that Pennsylvania collected $1.5 billion in General Fund revenue in February, which was $102.3 million, or 6.4 percent, less than anticipated. Fiscal year-to-date General Fund collections total $16 billion, which is $476.7 million, or 2.9 percent, below estimate.

Sales tax receipts totaled $567.7 million for February, $34.6 million below estimate. Year-to-date sales tax collections total $5.3 billion, which is $265.3 million, or 4.7 percent, less than anticipated.

Personal income tax (PIT) revenue in February was $670.5 million, $30.2 million below estimate. This brings year-to-date PIT collections to $6 billion, which is $193.6 million, or 3.1 percent, below estimate.      

February corporation tax revenue of $57.5 million was $15 million below estimate. Year-to-date corporation tax collections total $1.3 billion, which is $19.1 million, or 1.5 percent, below estimate.

Other General Fund revenue figures for the month included $51.7 million in inheritance tax, $4.7 million below estimate, bringing the year-to-date total to $477.5 million, which is $7.9 million below estimate.

Realty transfer tax was $12.8 million for February, $1.5 million below estimate, bringing the total to $191.1 million for the year, which is $1.8 million more than anticipated.

Other General Fund tax revenue, including cigarette, malt beverage and liquor taxes totaled $104.2 million for the month, $9.4 million below estimate and bringing the year-to-date total to $799 million, which is $22.9 million above estimate.

Non-tax revenue totaled $25.2 million for the month, $6.9 million below estimate, bringing the year-to-date total to $2 billion, which is $15.5 million below estimate.

In addition to the General Fund collections, the Motor License Fund received $166 million for the month, $600,000 above estimate. Fiscal year-to-date collections for the fund total $1.7 billion, which is $24.3 million, or 1.4 percent, below estimate.

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

Media contact: Stephanie Weyant, 717-787-6960

SOURCE Pennsylvania Department of Revenue