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11/1/2013

Revenue Department Releases October 2013 Collections

News for Immediate Release

Nov. 1, 2013

 

Revenue Department Releases October 2013 Collections

 

Harrisburg – Pennsylvania collected $2.1 billion in General Fund revenue in October, which was $29 million, or 1.4 percent, more than anticipated, Secretary of Revenue Daniel Meuser reported today. Fiscal year-to-date General Fund collections total $8.2 billion, which is $41.8 million, or 0.5 percent, above estimate.

 

Sales tax receipts totaled $783.1 million for October, $5.3 million above estimate. Year-to-date sales tax collections total $3.1 billion, which is $25.9 million, or 0.8 percent, more than anticipated.

 

Personal income tax (PIT) revenue in October was $896.2 million, $2.4 million above estimate. This brings year-to-date PIT collections to $3.4 billion, which is $5.3 million, or 0.2 percent, above estimate.    

 

October corporation tax revenue of $159.9 million was $20.2 million above estimate. Year-to-date corporation tax collections total $748.8 million, which is $10.2 million, or 1.4 percent, above estimate.

 

Inheritance tax revenue for the month was $73.5 million, $100,000 below estimate, bringing the year-to-date total to $287.1 million, which is $300,000, or 0.1 percent, below estimate.

 

Realty transfer tax revenue was $33.5 million for October, $3.6 million below estimate, bringing the fiscal-year total to $145.5 million, which is $2.6 million, or 1.8 percent, more than anticipated.

 

Other General Fund tax revenue, including cigarette, malt beverage, liquor and table games taxes, totaled $119.9 million for the month, $1.8 million below estimate and bringing the year-to-date total to $477.9 million, which is $4.1 million, or 0.9 percent, below estimate.

 

Non-tax revenue totaled $19.6 million for the month, $6.6 million above estimate, bringing the year-to-date total to $70.6 million, which is $2.2 million, or 3.1 percent, above estimate.

 

In addition to the General Fund collections, the Motor License Fund received $214.7 million for the month, $2 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 $817.7 million, which is $14.5 million, or 1.7 percent, below estimate.

 

For more information, visit www.revenue.state.pa.us.

 

Media contact: Elizabeth Brassell, 717-787-6960

 

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