Pennsylvania Revenue Department Releases August Collections

HARRISBURG, Pa., Sept. 4, 2012 /PRNewswire-USNewswire/ -- Pennsylvania collected $1.8 billion in General Fund revenue in August, which was $32.3 million, or 1.8 percent, less than anticipated, Secretary of Revenue Daniel Meuser reported today. Fiscal year-to-date General Fund collections total $3.6 billion, which is $33.2 million, or 0.9 percent, below estimate.

Sales tax receipts totaled $722.8 million for August, $35.6 million below estimate. Year-to-date sales tax collections total $1.5 billion, which is $35.7 million, or 2.3 percent, less than anticipated.

Personal income tax (PIT) revenue in August was $763.7 million, $13.7 million above estimate. This brings year-to-date PIT collections to $1.5 billion, which is $13.6 million, or 0.9 percent, above estimate.    

August corporation tax revenue of $59.1 million was $10.2 million above estimate. Year-to-date corporation tax collections total $169 million, which is $9.3 million, or 5.9 percent, above estimate.

Inheritance tax revenue for the month was $66.3 million, $10.1 million below estimate, bringing the year-to-date total to $134.5 million, which is $10 million, or 6.9 percent, below estimate.

Realty transfer tax revenue was $31.8 million for August, $2.2 million above estimate, bringing the fiscal-year total to $65 million, which is $2.1 million, or 3.4 percent, more than anticipated.

Other General Fund tax revenue, including cigarette, malt beverage, liquor and table games taxes, totaled $128.6 million for the month, $5.6 million below estimate and bringing the year-to-date total to $236.1 million, which is $5.6 million, or 2.4 percent, below estimate.

Non-tax revenue totaled $23 million for the month, $7 million below estimate, bringing the year-to-date total to $55.2 million, which is $7 million, or 11.2 percent, below estimate.

In addition to the General Fund collections, the Motor License Fund received $193.1 million for the month, $10.6 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 $422.8 million, which is $10.6 million, or 2.6 percent, above estimate.

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

Media contact: Maia Warren, 717-787-6960

SOURCE Pennsylvania Department of Revenue

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