Flush state tax collections in Pennsylvania exceed projections through April by $569M

bug


We also have more stories about:
(click the phrases to see a list)

Organizations:

Subjects:

Places:

 


HARRISBURG, Pennsylvania — Pennsylvania is getting some good state budget news.

The Revenue Department reported Friday that April revenues exceeded projections by $201 million, or about 5 percent. That pushes the surplus for the first nine months of the fiscal year to $569 million.

It's also about 7 percent more than tax collections a year ago.

Most major tax lines are outstripping estimates for the month and for the year. The biggest gain was a one-time bump in non-tax revenues in April resulting mainly from a change in unclaimed property rules. Corporate income-tax revenues are down for the month, but nearly 4 percent above estimates for the year.

Democratic Gov. Tom Wolf is seeking to increase taxes to boost school funding, reduce property taxes and close a projected budget gap.

All content copyright ©2015 Daily Journal, a division of Home News Enterprises unless otherwise noted.
All rights reserved. Click here to read our privacy policy.