HARRISBURG, Pa., July 1, 2015 /PRNewswire-USNewswire/
-- Pennsylvania collected $2.9
billion in General Fund revenue in June, which was
$206.7 million, or 6.6 percent, less
than the official estimate, Secretary of Revenue Eileen McNulty reported today. Fiscal year
2014-15 General Fund collections totaled $30.6 billion, which is $412.2 million, or 1.4 percent, above
estimate.
Sales tax receipts totaled $928.7
million for June, $300,000
below estimate. Sales tax collections for the fiscal year totaled
$9.5 billion, which is $16.1 million, or 0.2 percent, more than
anticipated.
Personal income tax (PIT) revenue in June was $1.2 billion, $4.1
million above estimate. This brought fiscal-year PIT
collections to $12.1 billion, which
is $74.6 million, or 0.6 percent,
above estimate.
June corporation tax revenue of $585
million was $71.9 million
above estimate. Fiscal-year corporation tax collections totaled
$5.1 billion, which is $240 million, or 4.9 percent, above estimate.
Inheritance tax revenue for the month was $96.6 million, $6.5
million below estimate. This brought the fiscal-year total
to $1 billion, which is $67.8 million, or 7.3 percent above estimate.
Realty transfer tax revenue was $44.6
million for June, $3.8 million
below estimate, bringing the fiscal-year total to $413.8 million, which is $33.7 million, or 7.5 percent less than
anticipated.
Other General Fund tax revenue, including cigarette, malt
beverage, liquor, and table games taxes, totaled $100.9 million for the month, $24.4 million below estimate and bringing the
fiscal-year total to $1.4 billion,
which is $19.2 million, or 1.4
percent, above estimate.
Non-tax revenue for the month totaled negative $3.4 million in June, $247.7 million below estimate, largely because
the state did not receive about $125
million for casino licenses and a $95
million transfer to the General Fund from the Oil and Gas
Lease Fund that were assumed in the fiscal year 2014-15 budget when
it was adopted in July 2014.
This brings the fiscal-year total for non-tax revenue to
$1.1 billion, which is $28.3 million, or 2.6 percent, above
estimate.
In addition to the General Fund collections, the Motor License
Fund received $227.9 million for the
month, $10.3 million below estimate.
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 $2.6 billion, which
is $83.6 million, or 3.3 percent,
above estimate.
The 2014-15 fiscal year General Fund revenue collections
reported above are preliminary, pending a final revenue deposit and
year-end adjustments.
Media contact: Elizabeth
Brassell, 717-787-6960
To view the original version on PR Newswire,
visit:http://www.prnewswire.com/news-releases/pennsylvania-revenue-department-releases-fiscal-year-2014-2015-collections-300107921.html
SOURCE Pennsylvania Department of Revenue