Pennsylvania Revenue Department Releases May 2015 Collections

HARRISBURG, Penn., June 1, 2015 /PRNewswire-USNewswire/ -- Pennsylvania collected $2 billion in General Fund revenue in May, which was $49.8 million, or 2.6 percent, more than anticipated, Acting Secretary of Revenue Eileen McNulty reported today. Fiscal year-to-date General Fund collections total $27.7 billion, which is $618.9 million, or 2.3 percent, above estimate.

Sales tax receipts totaled $746 million for May, $37.2 million below estimate. Year-to-date sales tax collections total $8.6 billion, which is $16.3 million, or 0.2 percent, more than anticipated.

Personal income tax (PIT) revenue in May was $775.4 million, $12.7 million above estimate. This brings year-to-date PIT collections to $10.9 billion, which is $70.5 million, or 0.6 percent, above estimate.          

May corporation tax revenue of $98.6 million was $2.2 million above estimate. Year-to-date corporation tax collections total $4.5 billion, which is $168.1 million, or 3.9 percent, above estimate.

Inheritance tax revenue for the month was $73.8 million, $2.2 million above estimate, bringing the year-to-date total to $905.7 million, which is $74.3 million, or 8.9 percent, above estimate.

Realty transfer tax revenue was $34.2 million for May, $900,000 above estimate, bringing the fiscal-year total to $369.2 million, which is $29.9 million, or 7.5 percent, less than anticipated.

Other General Fund tax revenue, including cigarette, malt beverage, liquor and table games taxes, totaled $135.6 million for the month, $16.7 million above estimate and bringing the year-to-date total to $1.3 billion, which is $43.6 million, or 3.5 percent, above estimate.

Non-tax revenue totaled $98.1 million for the month, $52.3 million above estimate, bringing the year-to-date total to $1.1 billion, which is $276 million, or 33.4 percent, above estimate.

In addition to the General Fund collections, the Motor License Fund received $206 million for the month, $37.7 million below 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 $2.4 billion, which is $94 million, or 4.1 percent, above estimate.

MEDIA CONTACT: Elizabeth Brassell, 717-787-6960

SOURCE Pennsylvania Department of Revenue

Related Links

http://www.state.pa.us

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