Pa. Revenue Department Releases December 2012 Collections

HARRISBURG, Pa., Jan. 2, 2013 /PRNewswire-USNewswire/ -- Pennsylvania collected $2.4 billion in General Fund revenue in December, which was $112.4 million, or 4.8 percent, more than anticipated, Secretary of Revenue Daniel Meuser reported today. Fiscal year-to-date General Fund collections total $12.2 billion, which is $171.5 million, or 1.4 percent, above estimate.

Sales tax receipts totaled $774.4 million for December, $15.9 million below estimate. Year-to-date sales tax collections total $4.5 billion, which is $125.4 million, or 2.7 percent, less than anticipated.

Personal income tax (PIT) revenue in December was $849.8 million, $26.6 million above estimate. This brings year-to-date PIT collections to $4.8 billion, which is $44.8 million, or 0.9 percent, above estimate.    

December corporation tax revenue of $546.3 million was $101.5 million above estimate. Year-to-date corporation tax collections total $1.5 billion, which is $243.6 million, or 19.9 percent, above estimate.

Inheritance tax revenue for the month was $70.1 million, $4.6 million below estimate, bringing the year-to-date total to $390.5 million, which is $23.3 million, or 5.6 percent, below estimate.

Realty transfer tax revenue was $33.9 million for December, $2.8 million above estimate, bringing the fiscal-year total to $178.9 million, which is $12.9 million, or 7.8 percent, more than anticipated.

Other General Fund tax revenue, including cigarette, malt beverage, liquor and table games taxes, totaled $138.3 million for the month, $7.8 million below estimate and bringing the year-to-date total to $759.4 million, which is $20.3 million, or 2.7 percent, below estimate.

Non-tax revenue totaled $28.8 million for the month, $9.8 million above estimate, bringing the year-to-date total to $158.2 million, which is $39.2 million, or 33 percent, above estimate.

In addition to the General Fund collections, the Motor License Fund received $163.1 million for the month, $2.3 million above 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 $1.2 billion, which is $12.8 million, or 1.1 percent, above estimate.

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

Media contact: Elizabeth Brassell, 717-787-6960

SOURCE Pennsylvania Department of Revenue



RELATED LINKS
http://www.state.pa.us

Custom Packages

Browse our custom packages or build your own to meet your unique communications needs.

Start today.

 

PR Newswire Membership

Fill out a PR Newswire membership form or contact us at (888) 776-0942.

Learn about PR Newswire services

Request more information about PR Newswire products and services or call us at (888) 776-0942.