Revenue Department Releases May Collections

HARRISBURG, Pa., June 1, 2011 /PRNewswire-USNewswire/ -- Pennsylvania collected $1.8 billion in General Fund revenue in May, which was $33.9 million, or 1.9 percent, more than anticipated, Secretary of Revenue Daniel Meuser reported today. Fiscal year-to-date General Fund collections total $24.3 billion, which is $539.4 million, or 2.3 percent, above estimate.

Sales tax receipts totaled $692.6 million for May, $36.6 million above estimate. Year-to-date sales tax collections total $7.6 billion, which is $180.7 million, or 2.4 percent, more than anticipated.

Personal income tax (PIT) revenue in May was $687.3 million, $14.7 million below estimate. This brings year-to-date PIT collections to $9.4 billion, which is $195.7 million, or 2.1 percent, above estimate.

May corporation tax revenue of $113.4 million was $25.7 million above estimate. Year-to-date corporation tax collections total $4.4 billion, which is $213.2 million, or 5.1 percent, above estimate.

Inheritance tax revenue for the month was $78.8 million, $6.6 million above estimate, bringing the year-to-date total to $725 million, which is $25.1 million, or 3.6 percent, above estimate.

Realty transfer tax revenue was $23.8 million for May, $500,000 above estimate, bringing the fiscal-year total to $249.7 million, which is $37.7 million, or 13.1 percent, less than anticipated.

Other General Fund tax revenue, including cigarette, malt beverage, liquor and table games taxes, totaled $120.4 million for the month, $9.6 million below estimate and bringing the year-to-date total to $1.3 billion, which is $23.2 million, or 1.7 percent, below estimate.

Non-tax revenue totaled $58.4 million for the month, $11.2 million below estimate, bringing the year-to-date total to $592.6 million, which is $14.5 million, or 2.4 percent, below estimate.

In addition to the General Fund collections, the Motor License Fund received $249.1 million for the month, $51.1 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 $2.3 billion, which is $178.5 million, or 8.3 percent, above estimate.

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

Media contact: Elizabeth Brassell, 717-787-6960

SOURCE Pennsylvania Department of Revenue

WANT YOUR COMPANY'S NEWS FEATURED ON PRNEWSWIRE.COM?

440k+
Newsrooms &
Influencers

9k+
Digital Media
Outlets

270k+
Journalists
Opted In

GET STARTED