Pennsylvania Revenue Department Releases January Collections

HARRISBURG, Pa., Feb. 1, 2011 /PRNewswire-USNewswire/ -- Pennsylvania collected $2.2 billion in General Fund revenue in January, which was $72.8 million, or 3.4 percent, more than anticipated, acting Secretary of Revenue Daniel Meuser reported today. Fiscal year-to-date General Fund collections total $13.7 billion, which is $264 million, or 2 percent, above estimate.

Sales tax receipts totaled $813.1 million for January, $4.8 million above estimate. Year-to-date sales tax collections total $5 billion, which is $107.7 million, or 2.2 percent, more than anticipated.

Personal income tax (PIT) revenue in January was $1.1 billion, $72.8 million above estimate. This brings year-to-date PIT collections to $5.6 billion, which is $89.5 million, or 1.6 percent, above estimate.

January corporation tax revenue of $89.9 million was $900,000 above estimate. Year-to-date corporation tax collections total $1.3 billion, which is $92.3 million, or 7.4 percent, above estimate.

Inheritance tax revenue for the month was $57.9 million, $1.6 million below estimate, bringing the year-to-date total to $438.7 million, which is $3.3 million above estimate.

Realty transfer tax revenue was $23.3 million for January, $100,000 below estimate, bringing the fiscal-year total to $172.6 million, which is $32.9 million less than anticipated.

Other General Fund tax revenue, including cigarette, malt beverage, liquor and table games taxes, totaled $97 million for the month, $9.4 million below estimate and bringing the year-to-date total to $849.4 million, which is $8.2 million below estimate.

Non-tax revenue totaled $20.8 million for the month, $5.4 million above estimate, bringing the year-to-date total to $340.2 million, which is $12.4 million above estimate.

In addition to the General Fund collections, the Motor License Fund received  

$244.4 million for the month, $22 million above estimate. Fiscal year-to-date collections for the fund total $1.5 billion, which is $185.3 million, or 13.7 percent, above estimate.

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

Media contact: Elizabeth Brassell, 717-787-6960

SOURCE Pennsylvania Department of Revenue

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