Pennsylvania Revenue Department Releases March Collections

HARRISBURG, Pa., April 1 /PRNewswire-USNewswire/ -- Acting Secretary of Revenue C. Daniel Hassell today reported that Pennsylvania collected $3.9 billion in General Fund revenue in March, which was $243 million, or 5.9 percent, less than anticipated. Fiscal year-to-date General Fund collections total $19.9 billion, which is $719.6 million, or 3.5 percent, below estimate.

Revenue collections in the last few days of the month resulted in a final March revenue figure that is $30 million higher than was expected earlier this week.

Sales tax receipts totaled $569 million for March, $50.9 million below estimate, attributable partly to inclement weather during February. Year-to-date sales tax collections total $5.9 billion, which is $316.2 million, or 5.1 percent, less than anticipated.

Personal income tax (PIT) revenue in March was $811.9 million, $57.7 million above estimate. This brings year-to-date PIT collections to $6.8 billion, which is $135.9 million, or 2 percent, below estimate.

March corporation tax revenue of $2.3 billion was $264.2 million below estimate. The Revenue Department estimates that approximately $140 million, or 53 percent, of the March shortfall is due to lower than expected annual electric utility gross receipts tax payments. Year-to-date corporation tax collections total $3.5 billion, which is $283.2 million, or 7.5 percent, below estimate.

Other General Fund revenue figures for the month included $68.2 million in inheritance tax, $5.1 million below estimate, bringing the year-to-date total to $545.7 million, which is $13 million below estimate.

Realty transfer tax was $20.8 million for March, $2.2 million above estimate, bringing the total to $211.9 million for the year, which is $4 million more than anticipated.

Other General Fund tax revenue, including cigarette, malt beverage and liquor taxes totaled $115.7 million for the month, $9.1 million above estimate and bringing the year-to-date total to $914.7 million, which is $32 million above estimate.

Non-tax revenue totaled $61.4 million for the month, $8.2 million above estimate, bringing the year-to-date total to $2 billion, which is $7.3 million below estimate.

In addition to the General Fund collections, the Motor License Fund received $204.6 million for the month, $13.8 million above estimate. Fiscal year-to-date collections for the fund total $1.9 billion, which is $10.4 million, or 0.5 percent, below estimate.

In March, Pennsylvania learned that the U.S. Department of Health and Human Services authorized additional payments to states for Medicare Part D. This will mean an extra $275 million for Pennsylvania, a portion of which is available to be used in this fiscal year.

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

Media contact: Stephanie Weyant, 717-787-6960

SOURCE Pennsylvania Department of Revenue

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