Revenue Department Releases January Collections

HARRISBURG, Pa., Feb. 1 /PRNewswire-USNewswire/ -- Acting Secretary of Revenue C. Daniel Hassell today reported that Pennsylvania collected $2.1 billion in General Fund revenue in January, which was $120.2 million, or 5.4 percent, less than anticipated. Fiscal year-to-date General Fund collections total $14.5 billion, which is $374.4 million, or 2.5 percent, below estimate.

Sales tax receipts totaled $790.5 million for January, $49.5 million below estimate. Year-to-date sales tax collections total $4.8 billion, which is $230.7 million, or 4.6 percent, less than anticipated.

Personal income tax (PIT) revenue in January was $1 billion, $51.7 million below estimate. This brings year-to-date PIT collections to $5.3 billion, which is $163.4 million, or 3 percent, below estimate.

January corporation tax revenue of $101 million was $3.2 million below estimate. Year-to-date corporation tax collections total $1.2 billion, which is $4.1 million, or 0.3 percent, below estimate.

Other General Fund revenue figures for the month included $50.4 million in inheritance tax, $9.9 million below estimate, bringing the year-to-date total to $425.7 million, which is $3.3 million below estimate.

Realty transfer tax was $16.6 million for January, $6.6 million below estimate, bringing the total to $178.3 million for the year, which is $3.3 million more than anticipated.

Other General Fund tax revenue, including cigarette, malt beverage and liquor taxes totaled $100.1 million for the month, $2.1 million above estimate and bringing the year-to-date total to $694.8 million, which is $32.3 million above estimate.

Non-tax revenue totaled $17.3 million for the month, $1.5 million below estimate, bringing the year-to-date total to $1.9 billion, which is $8.6 million below estimate.

In addition to the General Fund collections, the Motor License Fund received $305.7 million for the month, $9.1 million above estimate. Fiscal year-to-date collections for the fund total $1.6 billion, which is $24.8 million, or 1.6 percent, below estimate.

The Gaming Fund received $57.4 million in unrestricted revenues for January. Fiscal year-to-date collections for the fund total $408.7 million. Gaming Fund receipts include taxes, fees and interest. Of the total for the month, $57.3 million was collected in state taxes for property tax relief, bringing the year-to-date total to $408.3 million.  

Other gaming-related revenues collected for January included $21.3 million for the Local Share Assessment, for a net total of $50.6 million for the year; $8.4 million for the Economic Development and Tourism Fund, for a year-to-date total of $60 million; and $20.2 million for the Race Horse Development Fund, bringing the total for the year to $144.1 million.

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

Media contact: Stephanie Weyant, 717-787-6960

SOURCE Pennsylvania Department of Revenue