HARRISBURG, Pa., Aug. 29 PA-Aug-revenue-stats
HARRISBURG, Pa., Aug. 29 /PRNewswire-USNewswire/ -- Secretary of Revenue
Tom Wolf today reported Pennsylvania collected $1.7 billion in General Fund
revenue in August, $117.5 million, or 6.6 percent, less than anticipated.
Fiscal year-to-date General Fund collections total $3.4 billion, which is
$117.6 million, or 3.3 percent, below estimate.
"This is only the second month of the fiscal year," Wolf said. "It's too
early to jump to any conclusions about where collections will be at the end of
the fiscal year. August collections are actually 1 percent higher than the
same month last year."
Sales tax receipts totaled $693 million for August, $27.8 million below
estimate. Sales tax collections year-to-date total $1.5 billion, which is
$27.8 million, or 1.8 percent, below estimate.
Personal income tax (PIT) revenue in August was $737.2 million, $7.3
million below estimate, and brings year-to-date PIT collections to $1.4
billion, which is $7.3 million, or 0.5 percent, below estimate.
August corporation tax revenue of $46.8 billion was $21 million below
estimate. Year-to-date corporation tax collections total $125.6 billion,
which is $21 million, or 14.4 percent, below estimate.
Other General Fund revenue figures for the month included $67 million in
inheritance tax, which was $9.6 million below estimate, bringing the year-to-
date total to $140.9 million, which is $9.7 million below estimate.
Realty transfer tax was $35.1 million for August, bringing the total to
$72.1 million for the year, which is $6.8 million less than anticipated.
Other General Fund revenue, including the cigarette, malt beverage and
liquor tax, totaled $89.8 million for the month, which was $45 million below
estimate and brought the year-to-date total to $171.1 million, or $45 million
below estimate.
In addition to the General Fund collections, the Motor License Fund
received $274.8 million for the month, which was $36.1 million below estimate.
Fiscal year-to-date collections for the fund total $434.2 million, which is
$36.1 million, or 7.7 percent, below estimate.
The Gaming Fund received $47.5 million in unrestricted revenues for
August. Fiscal year-to-date collections for the fund total $102.6 million.
Gaming Fund receipts include taxes, fees and interest. Of the total for the
month, $47 million was collected in state taxes for property tax relief,
bringing the year-to-date total to $101.8 million.
Other gaming-related revenues collected for August included $5.5 million
for the Local Share Assessment, for a total of $7.8 million for the year; $6.9
million for the Economic Development and Tourism Fund, for a year-to-date
total of $15 million; and $16.6 million for the Race Horse Development Fund,
bringing the total for the year to $35.9 million.
CONTACT: Stephanie Weyant
(717) 787-6960
SOURCE Pennsylvania Department of Revenue
