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Pa. Revenue Department Releases January 2013 Collections

HARRISBURG, Pa., Feb. 1, 2013 /PRNewswire-USNewswire/ -- Pennsylvania collected $2.3 billion in General Fund revenue in January, which was $18.8 million, or 0.8 percent, less than anticipated, Secretary of Revenue Daniel Meuser reported today. Fiscal year-to-date General Fund collections total $14.6 billion, which is $152.7 million, or 1.1 percent, above estimate.

Sales tax receipts totaled $790.3 million for January, $59 million below estimate. Year-to-date sales tax collections total $5.3 billion, which is $184.4 million, or 3.4 percent, less than anticipated.

Personal income tax (PIT) revenue in January was $1.2 billion, $31.4 million above estimate. This brings year-to-date PIT collections to $6 billion, which is $76.2 million, or 1.3 percent, above estimate.    

January corporation tax revenue of $118.8 million was $23.6 million above estimate. Year-to-date corporation tax collections total $1.6 billion, which is $267.2 million, or 20.3 percent, above estimate.

Inheritance tax revenue for the month was $60.4 million, $10.4 million below estimate, bringing the year-to-date total to $450.9 million, which is $33.7 million, or 6.9 percent, below estimate.

Realty transfer tax revenue was $29.2 million for January, $5.1 million above estimate, bringing the fiscal-year total to $208 million, which is $17.9 million, or 9.4 percent, more than anticipated.

Other General Fund tax revenue, including cigarette, malt beverage, liquor and table games taxes, totaled $95.1 million for the month, $700,000 below estimate and bringing the year-to-date total to $854.5 million, which is $21 million, or 2.5 percent, below estimate.

Non-tax revenue totaled $10.2 million for the month, $8.8 million below estimate, bringing the year-to-date total to $168.4 million, which is $30.4 million, or 22 percent, above estimate.

In addition to the General Fund collections, the Motor License Fund received $221 million for the month, $7.4 million below 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 $1.4 billion, which is $5.4 million, or 0.4 percent, above estimate.

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

Media contact: Elizabeth Brassell, 717-787-6960

SOURCE Pennsylvania Department of Revenue

Copyright 2011 PR Newswire. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

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