Pennsylvania collected $4.2 billion in General Fund revenue in March, which was $20.7 million, or 0.5 percent, less than anticipated, Secretary of Revenue Daniel Meuser reported Tuesday. Fiscal year-to-date General Fund collections total $20.5 billion, which is $96.3 million, or 0.5 percent, below estimate.
But it’s worse than that according to Secretary Meuser.
“While March tax collections appear to be only $20 million short of estimate for the month and $96 million short, fiscal-year-to-date, an early transfer of $80 million in liquor store profits to facilitate cash flow disguises the fiscal reality,” said Meuser. “Considering the timing issue behind the liquor store profits, we’re really about $100 million short for the month and $176 million under for the fiscal year." Click Here for more details.
