Total tax collections for the month of December exceeded estimate by $15.3 million, pushing fiscal year-to-date tax collections $62.5 million above estimate, Revenue Secretary Dan Hassell reported Tuesday.
Pennsylvania collected $2.8 billion in General Fund revenue in December, which was $30.1 million, or 1.1 percent, less than anticipated. Fiscal year-to-date General Fund collections total $14.2 billion, which is $4.1 million below estimate.
Sales tax receipts totaled $894.9 million for December, $15.8 million above estimate. Year-to-date sales tax collections total $5.2 billion, which is $39.4 million, or 0.8 percent, more than anticipated.
Personal income tax (PIT) revenue in December was $1.1 billion, $70 million above estimate. This brings year-to-date PIT collections to $5.8 billion, which is $80.3 million, or 1.4 percent, above estimate.
December corporation tax revenue of $487.9 million was $64.6 million below estimate. Year-to-date corporation tax collections total $1.3 billion, which is $55.8 million, or 4.1 percent, below estimate.
Inheritance tax revenue for the month was $72.7 million, $10.9 million below estimate, bringing the year-to-date total to $477.2 million, which is $4.3 million, or 0.9 percent, below estimate.
Realty transfer tax revenue was $43.7 million for December, $3.8 million below estimate, bringing the fiscal-year total to $264.5 million, which is $1.2 million, or 0.4 percent, less than anticipated.
Other General Fund tax revenue, including cigarette, malt beverage, liquor and gaming taxes, totaled $196.9 million for the month, $8.8 million above estimate, and bringing the year-to-date total to $977 million, which is $4.1 million, or 0.4 percent, above estimate.
Non-tax revenue totaled $26.4 million for the month, $45.4 million below estimate, bringing the year-to-date total to $250.7 million, which is $66.6 million, or 21 percent, below estimate. The December estimate included an anticipated table games fee of $24.8 million in non-tax revenue. That amount was not received in December as anticipated, which artificially reduced non-tax revenue. The fee is expected to be paid later this year.
In addition to the General Fund collections, the Motor License Fund received $230.1 million for the month, $17.7 million above 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 $1.5 billion, which is $41.6 million, or 2.9 percent, above estimate.
No comments:
Post a Comment