04/22/24 - 117 New Stories - REAL Environmental & Conservation Leadership In PA: http://tinyurl.com/9bh4zbtr
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State Revenues Slightly Below Estimates For Year
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The Department of Revenue reported fiscal year-to-date General Fund collections total $9.2 billion, which is $14 million, or 0.2 percent above estimates. The state collected $1.6 billion in General Fund revenue in November, which was $4.5 million, or 0.3 percent, below estimates.
Sales tax receipts totaled $661.2 million for November, $26.8 million above estimate. Year-to-date sales tax collections total $3.5 billion, which is $71.3 million, or 2.1 percent, more than anticipated.
Personal income tax revenue in November was $657 million, $22.4 million below estimate. This brings year-to-date PIT collections to $3.6 billion, which is $77.6 million, or 2.1 percent, below estimate.
November corporation tax revenue of $48.3 million was $6.6 million below estimate. Year-to-date corporation tax collections total $769.1 million, which is $55.8 million, or 7.8 percent, above estimate.
Other General Fund revenue for the month included $65.6 million in inheritance tax, $3.8 million above estimate, bringing the year-to-date total to $313.7 million, which is $100,000 above estimate.
Realty transfer tax revenue was $20.6 million for November, $4.7 million below estimate, bringing the fiscal-year total to $123.4 million, which is $32.9 million less than anticipated.
Other General Fund tax revenue, including cigarette, malt beverage, liquor and table games taxes totaled $120.3 million for the month, $4.3 million below estimate and bringing the year-to-date total to $612.5 million, which is $3.1 million above estimate.
Non-tax revenue for the month totaled $18.7 million, $2.9 million above estimate, bringing the year-to-date total to $276.7 million, which is $5.7 million below estimate.
In addition to the General Fund collections, the Motor License Fund received $169 million for the month, $10.3 million above estimate. Fiscal year-to-date collections for the fund total $1 billion, which is $43.4 million, or 4.5 percent, above estimate.
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12/6/2010 |
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