Revenue Department Releases Fiscal Year 2012-13 Collections

HARRISBURG, Pa., July 1, 2013 /PRNewswire-USNewswire/ -- Pennsylvania collected $2.7 billion in General Fund revenue in June, which was $45.4 million, or 1.7 percent, less than anticipated, Secretary of Revenue Dan Meuser reported today.

Fiscal year 2012-13 General Fund collections totaled $28.6 billion, which was $56.9 million, or 0.2 percent, above estimate. The fiscal year ended June 30.

Sales tax receipts totaled $801.3 million for June, $17.6 million below estimate. Sales tax collections for the fiscal year totaled $8.9 billion, which was $325.6 million, or 3.5 percent, less than anticipated.

Personal income tax (PIT) revenue in June was $1 billion, $18.1 million below estimate. This brought fiscal-year PIT collections to $11.4 billion, which was $85.6 million, or 0.8 percent, above estimate.

June corporation tax revenue of $512.5 million was $1.1 million above estimate. Fiscal-year corporation tax collections totaled $5.2 billion, which was $274.5 million, or 5.6 percent, above estimate.

Inheritance tax revenue for the month was $75.2 million, $3.5 million above estimate. This brought the fiscal-year total to $845.3 million, which was $16.5 million, or 1.9 percent below estimate.

Realty transfer tax revenue was $34.1 million for June, $800,000 below estimate, bringing the fiscal-year total to $338.7 million, which was $19 million, or 6 percent, more than anticipated.

Other General Fund tax revenue, including cigarette, malt beverage, liquor and table games taxes, totaled $135.6 million for the month, $4 million below estimate and bringing the fiscal-year total to $1.4 billion, which was $50.5 million, or 3.5 percent, below estimate.

Non-tax revenue totaled $102.4 million in June, $9.5 million below estimate, bringing the fiscal-year total to $579.8 million, which was $70.4 million, or 13.8 percent, above estimate.

In addition to the General Fund collections, the Motor License Fund received $173.6 million for the month, $21.6 million below 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 $19.2 million, or 0.8 percent, above estimate.

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

Media contact: Maia Warren, 717-787-6960

Editor's note: The 2012-13 fiscal year General Fund revenue collections reported above are preliminary, pending a final revenue deposit and year-end adjustments. 

SOURCE Pennsylvania Department of Revenue

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