In brief: Pa. revenue picks up in February
Pennsylvania tax revenue remains nearly $482 million, or 3 percent, below the 2011-12 budget projection, as corporate and personal income taxes continue to plague the commonwealth.
The state Department of Revenue reported March 1 that Pennsylvania collected $1.7 billion in February — $15.6 million more than anticipated.
Corporation tax revenue came in at $64.2 million, or about $9.7 million below estimate. That brings the year-to-date collections to $1.4 billion, which is $296.5 million behind the budget projection.
Personal income tax revenue in February was $812.8 million, or $36.2 million above estimate. However, collections for the year are $175.3 million below estimate at $6.5 billion, the department said.
The department reported sales tax receipts of $623.7 million last month, which was $6.5 million below the budget projection. Sales tax collections are above estimate by $35.7 million for the year.
Taxes on cigarette, malt beverage, liquor and table games totaled $107 million in February, which was $300,000 below estimate. The year-to-date total is $980.4 million, or $6.9 million above the projection.