Pennsylvania Department of Revenue Collected $4.1 Billion in July 2020

money

HARRISBURG, PA — Pennsylvania collected $4.1 billion in General Fund revenue in July, the first month of the 2020-21 fiscal year, Revenue Secretary Dan Hassell reported this week.

The Department of Revenue estimates that approximately $1.6 billion of the revenue collected in July can be attributed to extending due dates for various taxes due to the COVID-19 pandemic.

“Our goal was to provide relief for Pennsylvania residents and business owners by giving them more time to file their returns and make their tax payments,” Revenue Secretary Dan Hassell said.

“Now that several of those significant deadlines that were extended have passed, much of the revenue that we expected to receive in the prior fiscal year has come in.

“We’re working as quickly as we can to process returns so that we’ll have a clearer picture of anticipated revenue collections for the remainder of the fiscal year.”

  • Sales tax receipts totaled $1.3 billion in July.
  • Personal income tax (PIT) revenue in July was $2.3 billion.
  • Corporation tax revenue was $240.5 million for July.
  • General Fund revenue figures for July included $118.4 million in inheritance tax and $17.9 million in realty transfer tax.
  • Other General Fund revenue, including cigarette, malt beverage, liquor and gaming taxes totaled $144.8 million for the month.
  • Non-tax revenue totaled $14.1 million for the month.
READ:  IRS Reminds Taxpayers of the Home Office Deduction Rules

In addition to the General Fund collections, the Motor License Fund received $287.5 million for the month, which includes the commonly known gas and diesel taxes, as well as other license, fine and fee revenues.

July collection data does not include a comparison against anticipated amounts because revenue estimates for each month are not yet finalized.

Thanks for visiting! MyChesCo brings reliable information and resources to Chester County, Pennsylvania. Please consider supporting us in our efforts. Your generous donation will help us continue this work and keep it free of charge. Show your support today by clicking here and becoming a patron.

Buy Us a Cup of Coffee