The Lead

Revenue Dept.: Pa. collected $3.8B in tax revenue in December

By: - January 3, 2022 1:38 pm

(Getty Images)

The state ended 2021 on a high note, collecting $3.8 billion in tax revenue in December, which was $464.3 million, or 13.7 percent, ahead of projections, the Pennsylvania Department of Revenue announced Monday.

With Democratic Gov. Tom Wolf’s last budget address just about a month away, the state has collected $22.6 billion for the fiscal year that ends on June 30. That’s 7 percent ahead of projections, the Revenue Department said in a statement.

Here’s a look at some key tax collection metrics, based on data the Revenue Department made available on Monday.

Sales Tax: The state collected $1.2 billion in sales taxes for December, which was $101.9 million ahead of estimates. The state’s year-to-date sales tax collections total $7.0 billion. That’s $409.1 million, or 6.2 percent, more than anticipated, state data indicated.

Personal Income Tax: Income tax collections in December totaled $1.3 billion, or $59.5 million above the state’s estimate. That brought year-to-date PIT collections to $6.9 billion, which is $308.0 million, or 4.7 percent, above estimate, state date showed.

Corporate Taxes: The state collected $913.4 million in corporate taxes last month. That was $577.2 million, or 30.7 percent, above estimate, according to data released Monday.

Inheritance Taxes: The state collected $143.2 million in December, which $24.9 million above estimate, bringing the year-to-date total to $755.1 million. Year-to-date collections were $50.2 million, or 7.1 percent, above estimate, the Revenue Department said.

Realty Transfer Taxes: The state collected $91.6 million in realty transfer taxes in December, which $24.5 million above estimate. That brought the fiscal-year total to $403.1 million, which is $44.0 million, or 12.2 percent, more than anticipated, the Revenue Department said in its statement.

Our stories may be republished online or in print under Creative Commons license CC BY-NC-ND 4.0. We ask that you edit only for style or to shorten, provide proper attribution and link to our web site. Please see our republishing guidelines for use of photos and graphics.

John L. Micek
John L. Micek

A 3-decade veteran of the news business, John L. Micek is the Pennsylvania Capital-Star's Editor-in-Chief. An award-winning political reporter, Micek’s career has taken him from small town meetings and Chicago City Hall to Congress and the Pennsylvania Capitol. His weekly column on U.S. politics is syndicated to 800 newspapers nationwide by Cagle Syndicate. He also contributes commentary and analysis to broadcast outlets in the U.S., Canada and the U.K. Micek’s first novel, “Ordinary Angels,” was released in 2019 by Sunbury Press.

MORE FROM AUTHOR