Pennsylvania Revenue Department Releases May Collections

HARRISBURG, Pa., June 1, 2012 /PRNewswire-USNewswire/ -- Pennsylvania collected $1.9 billion in General Fund revenue in May, which was $43.8 million, or 2.3 percent, less than anticipated, Secretary of Revenue Daniel Meuser reported today. Fiscal year-to-date General Fund collections total $24.9 billion, which is $332.9 million, or 1.3 percent, below estimate.

Sales tax receipts totaled $710.5 million for May, $44.4 million below estimate. Year-to-date sales tax collections total $8 billion, which is $29.7 million, or 0.4 percent, more than anticipated.

Personal income tax (PIT) revenue in May was $803.6 million, $300,000 below estimate. This brings year-to-date PIT collections to $9.8 billion, which is $224.8 million, or 2.2 percent, below estimate.    

May corporation tax revenue of $81.3 million was $18.4 million below estimate. Year-to-date corporation tax collections total $4.3 billion, which is $141.6 million, or 3.2 percent, below estimate.

Inheritance tax revenue for the month was $85.8 million, $6.1 million above estimate, bringing the year-to-date total to $756.2 million, which is $5.5 million, or 0.7 percent, below estimate.

Realty transfer tax revenue was $28.3 million for May, $5.8 million above estimate, bringing the fiscal-year total to $263.3 million, which is $400,000, or 0.2 percent, more than anticipated.

Other General Fund tax revenue, including cigarette, malt beverage, liquor and table games taxes, totaled $131.5 million for the month, $7.9 million above estimate and bringing the year-to-date total to $1.4 billion, which is $2 million, or 0.1 percent, above estimate.

Non-tax revenue totaled $51.7 million for the month, $600,000 below estimate, bringing the year-to-date total to $409.9 million, which is $6.9 million, or 1.7 percent, above estimate.

In addition to the General Fund collections, the Motor License Fund received $189.3 million for the month, $23.9 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 $2.2 billion, which is $14.9 million, or 0.7 percent, below 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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