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7/2/2014

Revenue Department Releases Fiscal Year 2013-2014 Collections

News for Immediate Release

July 2, 2014

Harrisburg – Pennsylvania collected $2.8 billion in General Fund revenue in June, which was $23.7 million, or 0.8 percent, more than anticipated, Secretary of Revenue Daniel Meuser reported today. Fiscal year 2013-14 General Fund collections totaled $28.6 billion, which is $508.8 million, or 1.7 percent, below estimate.

Sales tax receipts totaled $886.6 million for June, $43.5 million above estimate. Sales tax collections for the fiscal year totaled $9.1 billion, which is $99.1 million, or 1.1 percent, less than anticipated.

Personal income tax (PIT) revenue in June was $1.1 billion, $3 million above estimate. This brought fiscal-year PIT collections to $11.4 billion, which is $290.2 million, or 2.5 percent, below estimate.    

June corporation tax revenue of $542.8 million was $32.9 million above estimate. Fiscal-year corporation tax collections totaled $4.9 billion, which is $83 million, or 1.7 percent, below estimate.

Inheritance tax revenue for the month was $92.2 million, $1.1 million above estimate. This brought the fiscal-year total to $877.4 million, which is $5.1 million, or 0.6 percent below estimate.

Realty transfer tax revenue was $40.3 million for June, $2.1 million below estimate, bringing the fiscal-year total to $375.4 million, which is $23.6 million, or 5.9 percent less than anticipated.

Other General Fund tax revenue, including cigarette, malt beverage, liquor and table games taxes, totaled $132.9 million for the month, $1.5 million below estimate and bringing the fiscal-year total to $1.4 billion, which is $27.7 million, or 2 percent, below estimate.

Non-tax revenue totaled $32.2 million in June, $53.1 million below estimate, bringing the fiscal-year total to $509 million, which is $19.8 million, or 4.1 percent, above estimate.

In addition to the General Fund collections, the Motor License Fund received   $174.2 million for the month, $42.1 million below estimate. This revenue shortfall includes a transfer of $25 million into Motor License Fund restricted accounts not reflected in this report to ensure funding for highway and bridge projects consistent with Act 89 of 2013. Fiscal-year collections for the fund – which include the commonly known gas and diesel taxes, as well as other licenses, fine and fee revenues – total $2.4 billion, which is $22 million, or 0.9 percent, below estimate.

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

Media contact: Elizabeth Brassell, 717-787-6960

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EDITOR’S NOTE: The 2013-14 fiscal year General Fund revenue collections reported above are preliminary, pending a final revenue deposit and year-end adjustments. ​ 

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