PA revenue up in December – and for 2018

PA Capitol Bldg_1546455425525.jpg.jpg

HARRISBURG, DAUPHIN COUNTY (WBRE/WYOU) – Pennsylvania’s revenue collections beat analysts expectations in 2018 by nearly $1 billion dollars.

The state Revenue Department released its December revenue report Wednesday, which showed the state collected slightly more than $70 million more than expected, or about 2.5 percent more than anticipated for the month.

But the department also says total tax revenue collections for the 2018-19 fiscal year was up $934.7 million, or 6.7 percent, more than it collected the preceding year. While personal income tax collections were down in December both sales tax receipts and corporate taxes more than made up the difference.

Also ahead of expectations were collections on the so-called “sin taxes” – cigarettes, malt beverages, liquor and gaming. Those taxes over the course of the fiscal year were up slightly more than $950 million.

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