See more news releases in Banking & Financial Services | Economic News, Trends, Analysis

Revenue Department Releases February 2013 Collections

HARRISBURG, Pa., March 1, 2013 /PRNewswire-USNewswire/ -- Pennsylvania collected $1.6 billion in General Fund revenue in February, which was $47.7 million, or 2.8 percent, less than anticipated, Secretary of Revenue Daniel Meuser reported today. Fiscal year-to-date General Fund collections total $16.2 billion, which is $105 million, or 0.7 percent, above estimate.

Sales tax receipts totaled $644.2 million for February, $8.8 million below estimate. Year-to-date sales tax collections total $5.9 billion, which is $193.2 million, or 3.2 percent, less than anticipated.

Personal income tax (PIT) revenue in February was $715.2 million, $37.5 million below estimate. This brings year-to-date PIT collections to $6.7 billion, which is $38.7 million, or 0.6 percent, above estimate.

February corporation tax revenue of $64.5 million was $2.7 million, above estimate. Year-to-date corporation tax collections total $1.6 billion, which is $269.9 million, or 19.6 percent, above estimate.

Inheritance tax revenue for the month was $60.9 million, $4.9 million below estimate, bringing the year-to-date total to $511.8 million, which is $38.6 million, or 7 percent, below estimate.

Realty transfer tax revenue was $15.5 million for February, $0.9 million below estimate, bringing the fiscal-year total to $223.6 million, which is $17.1 million, or 8.3 percent, more than anticipated.

Other General Fund tax revenue, including cigarette, malt beverage, liquor and table games taxes, totaled $102.1 million for the month, 7.5 million below estimate and bringing the year-to-date total to $956.6 million, which is $28.5 million, or 3 percent, below estimate.

Non-tax revenue totaled $26.9 million for the month, $9 million above estimate, bringing the year-to-date total to $195.4 million, which is $39.5 million, or 25.3 percent, above estimate.

In addition to the General Fund collections, the Motor License Fund received $159.9 million for the month, $12.8 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 $1.6 billion, which is $18.2 million, or 1.2 percent, above estimate.

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

Media contact: Elizabeth Brassell , 717-787-6960

SOURCE Pennsylvania Department of Revenue