Pennsylvania Revenue Department Releases November Collections

HARRISBURG, Pa., Dec. 3, 2012 /PRNewswire-USNewswire/ -- Pennsylvania collected $1.7 billion in General Fund revenue in November, which was $23.1 million, or 1.4 percent, less than anticipated, Secretary of Revenue Daniel Meuser reported today. Fiscal year-to-date General Fund collections total $9.8 billion, which is $59.1 million, or 0.6 percent, above estimate.

Sales tax receipts totaled $709.4 million for November, $36.3 million below estimate. Year-to-date sales tax collections total $3.7 billion, which is $109.5 million, or 2.9 percent, less than anticipated.

Personal income tax (PIT) revenue in November was $679.7 million, $20.7 million below estimate. This brings year-to-date PIT collections to $4 billion, which is $18.3 million, or 0.5 percent, above estimate.    

November corporation tax revenue of $48.8 million was $6 million, above estimate. Year-to-date corporation tax collections total $918.4 million, which is $142.1 million, or 18.3 percent, above estimate.

Inheritance tax revenue for the month was $63.4 million, $6.5 million above estimate, bringing the year-to-date total to $320.4 million, which is $18.7 million, or 5.5 percent, below estimate.

Realty transfer tax revenue was $24.6 million for November, $5.3 million above estimate, bringing the fiscal-year total to $145 million, which is $10.1 million, or 7.5 percent, more than anticipated.

Other General Fund tax revenue, including cigarette, malt beverage, liquor and table games taxes, totaled $132.4 million for the month, $4.5 million above estimate and bringing the year-to-date total to $621.1 million, which is $12.5 million, or 2 percent, below estimate.

Non-tax revenue totaled $20.9 million for the month, $11.6 million above estimate, bringing the year-to-date total to $129.4 million, which is $29.4 million, or 29.4 percent, above estimate.

In addition to the General Fund collections, the Motor License Fund received $178.2 million for the month, $7.7 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 billion, which is $10.5 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
http://www.revenue.state.pa.us

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