Revenue Department Releases March Collections

HARRISBURG, Pa., April 1, 2011 /PRNewswire-USNewswire/ -- Pennsylvania collected $4 billion in General Fund revenue in March, which was $10.5 million, or 0.3 percent, less than anticipated, the Department of Revenue reported today. Fiscal year-to-date General Fund collections total $19.2 billion, which is $232.7 million, or 1.2 percent, above estimate.

Sales tax receipts totaled $621.3 million for March, $26.5 million above estimate. Year-to-date sales tax collections total $6.2 billion, which is $126.5 million, or 2.1 percent, more than anticipated.

Personal income tax (PIT) revenue in March was $894.9 million, $52.7 million above estimate. This brings year-to-date PIT collections to $7.2 billion, which is $118.4 million, or 1.7 percent, above estimate.

March corporation tax revenue of $2.2 billion was $112.3 million below estimate. Year-to-date corporation tax collections total $3.6 billion, which is $8.3 million, or 0.2 percent, below estimate.

Inheritance tax revenue for the month was $85.5 million, $15.8 million above estimate, bringing the year-to-date total to $586.2 million, which is $24.2 million above estimate.

Realty transfer tax revenue was $19.7 million for March, meeting estimate, bringing the fiscal-year total to $207.5 million, which is $33.4 million less than anticipated.

Other General Fund tax revenue, including cigarette, malt beverage, liquor and table games taxes, totaled $120.1 million for the month, $3.2 million below estimate and bringing the year-to-date total to $1.1 billion, which is $19.6 million below estimate.

Non-tax revenue totaled $41.7 million for the month, $10.1 million above estimate, bringing the year-to-date total to $405.6 million, which is $25 million above estimate.

In addition to the General Fund collections, the Motor License Fund received $194.6 million for the month, $4.6 million above estimate. Fiscal year-to-date collections for the fund total $1.9 billion, which is $165.2 million, or 9.7 percent, above estimate.

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

CONTACT: Elizabeth Brassell, +1-717-787-6960

SOURCE Pennsylvania Department of Revenue

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