PA Revenue Department Releases December Collections

To: STATE EDITORS

Contact: Stephanie Weyant of Pennsylvania Department of Revenue, +1-717-787-6960

HARRISBURG, Pa.,Dec. 31/PRNewswire-USNewswire/–Secretary of Revenue Tom Wolf today reported that Pennsylvania collected $2.2 billion in General Fund revenue in December, $39.9 million, or 1.8 percent, more than anticipated. Fiscal year-to-date General Fund collections total $11.7 billion, which is $175.8 million, or 1.5 percent, above estimate.

Year-to-date collections include two, large corporate tax settlements totaling nearly $48 million. Without these two settlements, year-to-date collections would be $127.8 million, or 1.1 percent, above estimate.

Sales tax receipts totaled $679.4 million for December, which was $4.5 million above estimate. Sales tax collections year-to-date, total $4.3 billion, which is $31.4 million, or 0.7 percent, above estimate.

Personal Income Tax (PIT) revenue in December was $797.6 million, which was $19.2 million above estimate. This brings year-to-date PIT collections to $4.5 billion, which is $33.2 million, or 0.7 percent, above estimate.

December corporation tax revenue of $559.8 million was $61 million above estimate. Year-to-date corporation tax collections total $1.5 billion, which is $109.2 million, or 7.6 percent, above estimate.

Other General Fund revenue figures for the month included $58 million in inheritance tax, which was $7.9 million below estimate, bringing the year-to-date total to $397.2 million, which is $2.5 million above estimate.

Realty transfer tax was $24.2 million for December, bringing the total to $245.6 million for the year, which is $11.8 million more than anticipated.

Other General Fund revenue including the cigarette, malt beverage and liquor tax totaled $116.2 million for the month, $26.1 million below estimate, bringing the year-to-date total to $744.2 million, which is $12.3 million below estimate.

In addition to the General Fund collections, the Motor License Fund received $160.3 million for the month, $11.7 million below estimate. Fiscal year-to-date collections for the fund total $1.3 billion, which is $16.8 million, or 1.3 percent, below estimate.

The Gaming Fund received $29.3 million in unrestricted revenues for December. Fiscal year-to-date collections for the fund total $459 million. Gaming Fund receipts include taxes, fees and interest. Of the total for the month, $28.6 million was collected in state taxes for property tax relief, bringing the year-to-date total to $205.1 million.

Other gaming-related revenues collected for December included $2.5 million for the Local Share Assessment, for a total of $23.2 million for the year; $4.2 million for the Economic Development and Tourism Fund, for a year-to-date total of $30.2 million; and $10.1 million for the Race Horse Development Fund, bringing the total for the year to $72.4 million.

CONTACT:

Stephanie Weyant

(717) 787-6960

SOURCE Pennsylvania Department of Revenue

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