Pennsylvania Revenue Department Releases October Collections

HARRISBURG, Pa., Nov. 1, 2011 /PRNewswire-USNewswire/ -- Pennsylvania collected $1.8 billion in General Fund revenue in October, which was $67.1 million, or 3.6 percent, less than anticipated, Secretary of Revenue Daniel Meuser reported today. Fiscal year-to-date General Fund collections total $7.7 billion, which is $282.1 million, or 3.6 percent, below estimate.

Sales tax receipts totaled $726.7 million for October, $22 million above estimate. Year-to-date sales tax collections total $2.9 billion, which is $8.6 million, or 0.3 percent, less than anticipated.

Personal income tax (PIT) revenue in October was $735.6 million, $37.4 million below estimate. This brings year-to-date PIT collections to $3.1 billion, which is $134.6 million, or 4.2 percent, below estimate.    

October corporation tax revenue of $107.3 million was $53.4 million below estimate. Year-to-date corporation tax collections total $711.2 million, which is $142.9 million, or 16.7 percent, below estimate.

Inheritance tax revenue for the month was $67.6 million, $4.3 million above estimate, bringing the year-to-date total to $268.2 million, which is $2.1 million, or 0.8 percent, below estimate.

Realty transfer tax revenue was $23 million for October, $3.8 million below estimate, bringing the fiscal-year total to $105.2 million, which is $8.9 million, or 7.8 percent, less than anticipated.

Other General Fund tax revenue, including cigarette, malt beverage, liquor and table games taxes, totaled $130.1 million for the month, $800,000 above estimate and bringing the year-to-date total to $507.6 million, which is $8.1 million, or 1.6 percent, above estimate.

Non-tax revenue totaled $15.9 million for the month, $400,000 above estimate, bringing the year-to-date total to $90.8 million, which is $6.9 million, or 8.2 percent, above estimate.

In addition to the General Fund collections, the Motor License Fund received $215 million for the month, $11.8 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 $832 million, which is $5.8 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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