Revenue Department Releases March 2015 Collections

HARRISBURG, Pa., April 1, 2015 /PRNewswire-USNewswire/ -- Pennsylvania collected $4.3 billion in General Fund revenue in March, which was $9.5 million, or 0.2 percent, less than anticipated, Acting Secretary of Revenue Eileen McNulty reported today. Fiscal year-to-date General Fund collections total $21.7 billion, which is $368.1 million, or 1.7 percent, above estimate.

Sales tax receipts totaled $692.9 million for March, $19.1 million below estimate. Year-to-date sales tax collections total $7 billion, which is $42.6 million, or 0.6 percent, more than anticipated.

Personal income tax (PIT) revenue in March was $972.8 million, $18.9 million above estimate. This brings year-to-date PIT collections to $8.1 billion, which is $36.7 million, or 0.5 percent, above estimate.

March corporation tax revenue of $2.4 billion was $16.6 million above estimate. Year-to-date corporation tax collections total $4 billion, which is $186.2 million, or 4.9 percent, above estimate.

Inheritance tax revenue for the month was $78.7 million, $17.5 million below estimate, bringing the year-to-date total to $739.4 million, which is $62.2 million, or 9.2 percent, above estimate.

Realty transfer tax revenue was $30.5 million for March, $2.7 million below estimate, bringing the fiscal-year total to $302.4 million, which is $26.2 million, or 8 percent, less than anticipated.

Other General Fund tax revenue, including cigarette, malt beverage, liquor and table games taxes, totaled $66.6 million for the month, $8.4 million above estimate and bringing the year-to-date total to $1 billion, which is $32.2 million, or 3.2 percent, above estimate.

Non-tax revenue totaled $59.6 million for the month, $14.2 million below estimate, bringing the year-to-date total to $559.8 million, which is $34.3 million, or 6.5 percent, above estimate.

In addition to the General Fund collections, the Motor License Fund received $232.3 million for the month, $22.9 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 $1.9 billion, which is $98.5 million, or 5.5 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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