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Pennsylvania DOR Announces April 2021 Revenue Collections

Dated May 5, 2021

SUMMARY BY TAX ANALYSTS

The Pennsylvania Department of Revenue has announced that the state collected $4.0 billion in general fund revenue in April, which is $28.2 million — or 0.7 percent — above forecast; revenues from sales tax, corporation tax, inheritance tax, and realty transfer tax were above estimate by $273.1 million, $251.8 million, $57.2 million, and $12 million, respectively, while personal income tax receipts were $571.8 million below forecast, which is attributable to the DOR's filing and payment extension for 2020 personal income taxes to May 17 in light of the ongoing COVID-19 pandemic.

The DOR also noted that fiscal year-to-date collections are $1.3 billion — or 4.2 percent — above estimate at $32.7 billion.

Revenue Department Releases April 2021 Collections

05/03/2021

Harrisburg, PA — Pennsylvania collected $4.0 billion in General Fund revenue in April, which was $28.2 million, or 0.7 percent, more than anticipated, Revenue Secretary Dan Hassell reported today. Fiscal year-to-date General Fund collections total $32.7 billion, which is $1.3 billion, or 4.2 percent, above estimate.

Secretary Hassell noted that personal income tax (PIT) revenue in April was $1.7 billion, $571.8 million below estimate. This is a direct result of the Department of Revenue extending the deadline for filling 2020 personal income tax returns and making final 2020 income tax payments. The ling deadline was moved to May 17, 2021 — about a month later than the original deadline — which means the majority of the PIT revenue shortfall from April is expected to be made up in May.

Despite this shift, stronger-than-expected collections in April from the other two primary revenue sources — corporation tax and sales tax — largely offset the PIT shortfall. Overall, revenue collections are trending very positively when compared to this time last year.

"The good news is that Pennsylvania's economic outlook is much improved from November, when we created our monthly revenue estimates that anticipated a much slower recovery from the impact of the COVID-19 pandemic," Secretary Hassell said. "As of today, we are more than $1.3 billion above our estimate for the fiscal year. This is very positive news with two months to go in the current fiscal year."

As a reminder, under Pennsylvania law the deadline for filling state income tax returns is tied to the deadline set at the federal level. The IRS also extended the federal income tax ling deadline to May 17, 2021.

Below is a full breakdown of revenue collections:

Sales tax receipts totaled $1.2 billion for April, $273.1 million above estimate. Year-to-date sales tax collections total $10.5 billion, which is $529.9 million, or 5.3 percent, more than anticipated.

Personal income tax (PIT) revenue in April was $1.7 billion, $571.8 million below estimate. This brings year-to-date PIT collections to $12.9 billion, which is $299.3 million, or 2.3 percent, below estimate.

April corporation tax revenue of $551.2 million was $251.8 million above estimate. Year-to-date corporation tax collections total $5.2 billion, which is $728.4 million, or 16.3 percent, above estimate.

Inheritance tax revenue for the month was $145.5 million, $57.2 million above estimate, bringing the year-to-date total to $1.1 billion, which is $162.9 million, or 17.2 percent, above estimate.

Realty transfer tax revenue was $52.6 million for April, $12.0 million above estimate, bringing the fiscal-year total to $518.2 million, which is $80.7 million, or 18.5 percent, more than anticipated.

Other General Fund tax revenue, including cigarette, malt beverage, liquor and gaming taxes, totaled $67.6 million for the month, $45.8 million above estimate and bringing the year-to-date total to $1.4 billion, which is $107.8 million, or 8.4 percent, above estimate.

Non-tax revenue totaled $226.3 million for the month, $39.9 million below estimate, bringing the year-to-date total to $1.1 billion, which is $2.8 million, or 0.3 percent, below estimate.

In addition to the General Fund collections, the Motor License Fund received $283.2 million for the month, $14.4 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, ne and fee revenues — total $2.3 billion, which is $14.5 million, or 0.6 percent, below estimate.

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