Pennsylvania Revenue Department Releases Fiscal Year 2011-12 Collections

HARRISBURG, Pa., July 2, 2012 /PRNewswire-USNewswire/ -- Pennsylvania collected $2.8 billion in General Fund revenue in June, which was $170.1 million, or 6.5 percent, more than anticipated, Secretary of Revenue Dan Meuser reported today.

Fiscal year 2011-12 General Fund collections totaled $27.7 billion, which was $162.8 million, or 0.6 percent, below estimate. The fiscal year ended June 30.

Sales tax receipts totaled $777.7 million for June, $45.5 million below estimate. Sales tax collections for the fiscal year totaled $8.8 billion, which was $15.8 million, or 0.2 percent, less than anticipated.

Personal income tax (PIT) revenue in June was $995.3 million, $25.7 million above estimate. This brought fiscal-year PIT collections to $10.8 billion, which was $199.1 million, or 1.8 percent, below estimate.

June corporation tax revenue of $651 million was $180.4 million above estimate. Fiscal-year corporation tax collections totaled $5 billion, which was $38.8 million, or 0.8 percent, above estimate.

Inheritance tax revenue for the month was $71.5 million, $4.9 million below estimate. This brought the fiscal-year total to $827.7 million, which was $10.4 million, or 1.2 percent below estimate.

Realty transfer tax revenue was $28.8 million for June, $300,000 above estimate, bringing the fiscal-year total to $292.2 million, which was $800,000, or 0.3 percent, more than anticipated.

Other General Fund tax revenue, including cigarette, malt beverage, liquor and table games taxes, totaled $139.1 million for the month, $400,000 below estimate and bringing the fiscal-year total to $1.5 billion, which was $1.6 million, or 0.1 percent, above estimate.

Non-tax revenue totaled $119.6 million in June, $14.4 million above estimate, bringing the fiscal-year total to $529.5 million, which was $21.3 million, or 4.2 percent, above estimate.

In addition to the General Fund collections, the Motor License Fund received $199.9 million for the month, $12.7 million above estimate. Fiscal-year collections for the fund – which include the commonly known gas and diesel taxes, as well as other licenses, fine and fee revenues – totaled $2.4 billion, which was $2.2 million, or 0.1 percent, below estimate.

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

Editor's note: The 2011-12 fiscal year General Fund revenue collections reported above are preliminary, pending a final revenue deposit and year-end adjustments. 

Media contact: Elizabeth Brassell , 717-787-6960

SOURCE Pennsylvania Department of Revenue

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