Revenue Department Releases May Collections

Jun 01, 2010, 15:40 ET from Pennsylvania Department of Revenue

HARRISBURG, Pa., June 1 /PRNewswire-USNewswire/ -- Pennsylvania collected $1.8 billion in General Fund revenue in May, which was $124.9 million, or 6.5 percent, less than anticipated, Secretary of Revenue C. Daniel Hassell reported today. Fiscal year-to-date General Fund collections total $24.6 billion, which is $1.2 billion, or 4.8 percent, below estimate.

Sales tax receipts totaled $652.3 million for May, $27 million below estimate. Year-to-date sales tax collections total $7.3 billion, which is $369.8 million, or 4.9 percent, less than anticipated.

Personal income tax (PIT) revenue in May was $691.6 million, $46.6 million below estimate. This brings year-to-date PIT collections to $8.9 billion, which is $311.1 million, or 3.4 percent, below estimate.

May corporation tax revenue of $85.8 million was $53.6 million below estimate. Year-to-date corporation tax collections total $4 billion, which is $484.6 million, or 10.7 percent, below estimate.

Other General Fund revenue figures for the month included $61.8 million in inheritance tax, $6.5 million below estimate, bringing the year-to-date total to $676.6 million, which is $17.7 million below estimate.

Realty transfer tax was $23.6 million for May, $2.9 million above estimate, bringing the total to $259.4 million for the year, which is $11.5 million more than anticipated.

Other General Fund tax revenue, including cigarette, malt beverage and liquor taxes totaled $119.9 million for the month, $10.2 million above estimate and bringing the year-to-date total to $1.2 billion, which is $44.8 million above estimate.

Non-tax revenue, including $99 million in table games license fees, totaled $169.5 million for the month, $4.4 million below estimate, bringing the year-to-date total to $2.4 billion, which is $107.9 million below estimate.

In addition to the General Fund collections, the Motor License Fund received   $215.2 million for the month, $7.8 million below estimate. Fiscal year-to-date collections for the fund total $2.4 billion, which is $23.4 million, or 0.9 percent, below estimate.

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

Media contact: Stephanie Weyant, 717-787-6960

SOURCE Pennsylvania Department of Revenue



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