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Pennsylvania Revenue Department Releases March 2013 Collections

HARRISBURG, Pa., April 1, 2013 /PRNewswire-USNewswire/ -- Pennsylvania collected $4.2 billion in General Fund revenue in March, which was $69.4 million, or 1.6 percent, less than anticipated, Secretary of Revenue Daniel Meuser reported today. Fiscal year-to-date General Fund collections total $20.3 billion, which is $35.5 million, or 0.2 percent, above estimate.

Sales tax receipts totaled $677.7 million for March, $51.3 million below estimate. Year-to-date sales tax collections total $6.6 billion, which is $244.5 million, or 3.6 percent, less than anticipated.

Personal income tax (PIT) revenue in March was $859.5 million, $11 million below estimate. This brings year-to-date PIT collections to $7.6 billion, which is $27.8 million, or 0.4 percent, above estimate.    

March corporation tax revenue of $2.4 billion was $15 million below estimate. Year-to-date corporation tax collections total $4 billion, which is $254.8 million, or 6.8 percent, above estimate.

Inheritance tax revenue for the month was $72 million, $8.4 million below estimate, bringing the year-to-date total to $583.8 million, which is $47 million, or 7.5 percent, below estimate.

Realty transfer tax revenue was $22.9 million for March, $400,000 above estimate, bringing the fiscal-year total to $246.4 million, which is $17.4 million, or 7.6 percent, more than anticipated.

Other General Fund tax revenue, including cigarette, malt beverage, liquor and table games taxes, totaled $83.6 million for the month, $11.3 million below estimate and bringing the year-to-date total to $1 billion, which is $39.8 million, or 3.8 percent, below estimate.

Non-tax revenue totaled $65.1 million for the month, $27.2 million above estimate, bringing the year-to-date total to $260.5 million, which is $66.7 million, or 34.4 percent, above estimate.

In addition to the General Fund collections, the Motor License Fund received $190.2 million for the month, $3.6 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 $1.7 billion, which is $14.7 million, or 0.8 percent, above/below 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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