PA Revenue Department Releases October Collections

HARRISBURG, Pa., Nov. 2 /PRNewswire-USNewswire/ -- Secretary of Revenue Stephen H. Stetler today reported that Pennsylvania collected $3.5 billion in General Fund revenue in October, which was $19.5 million, or 0.6 percent, less than anticipated.

Fiscal year-to-date General Fund collections total $8.8 billion, which is $160.2 million, or 1.8 percent, below estimate.

Sales tax receipts totaled $696.6 million for October, $37 million below estimate. Year-to-date sales tax collections total $2.7 billion, which is $89.3 million, or 3.2 percent, less than anticipated.

Personal income tax (PIT) revenue in October was $719.9 million, $13.7 million above estimate. This brings year-to-date PIT collections to $2.9 billion, which is $84.2 million, or 2.8 percent, below estimate.

October corporation tax revenue of $116.6 million was $500,000 above estimate. Year-to-date corporation tax collections total $658 million, which is $7.8 million, or 1.2 percent, above estimate.

Other General Fund revenue figures for the month included $61.2 million in inheritance tax, $800,000 above estimate, bringing the year-to-date total to $242.8 million, which is $5.3 million below estimate.

Realty transfer tax was $26.1 million for October, $1.4 million above estimate, bringing the total to $108.3 million for the year, which is $2.3 million less than anticipated.

Other General Fund tax revenue, including cigarette, malt beverage and liquor taxes totaled $94.4 million for the month, $11 million above estimate, bringing the year-to-date total to $353.8 million, which is $12.2 million above estimate.

Non-tax revenue totaled $1.8 billion for the month, $9.9 million below estimate, bringing the year-to-date total to $1.9 billion, which is $900,000 above estimate.

In addition to the General Fund collections, the Motor License Fund received $325.6 million for the month, $41.1 above estimate. Fiscal year-to-date collections for the fund total $992.7 million, which is $16.7 million, or 1.7 percent, above estimate.

The Gaming Fund received $56.3 million in unrestricted revenues for October. Fiscal year-to-date collections for the fund total $239.9 million. Gaming Fund receipts include taxes, fees and interest. Of the total for the month, $56.2 million was collected in state taxes for property tax relief, bringing the year-to-date total to $239.4 million.

Other gaming-related revenues collected for October included $6.6 million for the Local Share Assessment, for a net total of $16.1 million for the year; $8.3 million for the Economic Development and Tourism Fund, for a year-to-date total of $35.2 million; and $19.8 million for the Race Horse Development Fund, bringing the total for the year to $84.5 million.

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

Media contact: Stephanie Weyant, 717-787-6960

SOURCE Pennsylvania Department of Revenue