Pennsylvania collected $2.3 billion in General Fund revenue in December, which was $141.5 million, or 5.9 percent, less than anticipated, Secretary of Revenue Daniel Meuser reported today. Fiscal year-to-date General Fund collections total $11.6 billion, which is $486.8 million, or 4 percent, below estimate.
Sales tax receipts totaled $756.4 million for December, $4.4 million below estimate. Year-to-date sales tax collections total $4.4 billion, which is $23.3 million, or 0.5 percent, less than anticipated.
Personal income tax (PIT) revenue in December was $794 million, $36.7 million below estimate. This brings year-to-date PIT collections to $4.6 billion, which is $165.9 million, or 3.5 percent, below estimate.
December corporation tax revenue of $459.9 million was $92.2 million below estimate. Year-to-date corporation tax collections total $1.2 billion, which is $259.3 million, or 17.6 percent, below estimate.
Inheritance tax revenue for the month was $70.3 million, $100,000 above estimate, bringing the year-to-date total to $391.3 million, which is $17.9 million, or 4.4 percent, below estimate.
Realty transfer tax revenue for December was $29.2 million, $4.5 million above estimate, bringing the fiscal-year total to $152.6 million, which is $9.9 million, or 6.1 percent, less than anticipated.
Other General Fund tax revenue, including cigarette, malt beverage, liquor and table games taxes, totaled $145.5 million for the month, $2.6 million above estimate and bringing the year-to-date total to $778.2 million, which is $10 million, or 1.3 percent, above estimate.
Non-tax revenue totaled $15 million for the month, $15.5 million below estimate, bringing the year-to-date total to $112.3 million, which is $20.7 million, or 15.5 percent, below estimate.
In addition to the General Fund collections, the Motor License Fund received $159.6 million for the month, $9.2 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 $1.2 billion, which is $4.4 million, or 0.4 percent, below estimate.
WVTT News Radio is the Twin Tiers radio news leader. We are at 96.7 in Olean, NY and 103.9 in Kane, PA. WVTT is part of family and locally owned Colonial Radio Group. If you see or have news, email us: news@colonial.cc. This site is loaded with information. Click the tabs, scroll down and review posts and info posts on the right! Remember you can watch Twin Tiers Morning News on News Channel 25 WVTT-TV in Olean and Time Warner cable channel 15.
Subscribe to:
Post Comments (Atom)
No comments:
Post a Comment