Revenue Department Releases Fiscal Year 2010-2011 Collections

HARRISBURG, Pa., July 1, 2011 /PRNewswire-USNewswire/ -- Pennsylvania collected $3.2 billion in General Fund revenue in June, which was $246.1 million, or 8.3 percent, more than anticipated, Secretary of Revenue Daniel Meuser reported today. Fiscal year 2010-11 General Fund collections totaled $27.5 billion, which is $785.5 million, or 2.9 percent, above estimate.

Sales tax receipts totaled $1 billion for June, $72.2 million above estimate. Sales tax collections for the fiscal year totaled $8.6 billion, which is $252.9 million, or 3 percent, more than anticipated.

Personal income tax (PIT) revenue in June was $1 billion, $115.5 million above estimate. This brought fiscal-year PIT collections to $10.4 billion, which is $311.2 million, or 3.1 percent, above estimate.

June corporation tax revenue of $502.5 million was $32.3 million above estimate. Fiscal-year corporation tax collections totaled $4.9 billion, which is $245.4 million, or 5.3 percent, above estimate.

Inheritance tax revenue for the month was $80.2 million, $9.2 million above estimate. This brought the fiscal-year total to $805.2 million, which is $34.3 million, or 4.5 percent above estimate.

Realty transfer tax revenue was $29.5 million for June, $1.7 million below estimate, bringing the fiscal-year total to $279.2 million, which is $39.4 million, or 12.4 percent less than anticipated.

Other General Fund tax revenue, including cigarette, malt beverage, liquor and table games taxes, totaled $131.4 million for the month, $6.9 million below estimate and bringing the fiscal-year total to $1.5 billion, which is $30.1 million, or 2 percent, below estimate.

Non-tax revenue totaled $443.8 million in June, $25.5 million above estimate, bringing the fiscal-year total to $1 billion, which is $11.2 million, or 1.1 percent, above estimate.

In addition to the General Fund collections, the Motor License Fund received $192.3 million for the month, $19.1 million above estimate. Fiscal-year collections for the fund – which include the commonly known gas and diesel taxes, as well as other licenses, fine and fee revenues – total $2.5 billion, which is $197.6 million, or 8.5 percent, above estimate.

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

Media contact: Elizabeth Brassell, 717-787-6960

Editor's Note: The 2010-11 fiscal year General Fund revenue collections reported here are preliminary, pending a final revenue deposit and year-end adjustments.  

SOURCE Pennsylvania Department of Revenue