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State tax collections are ahead of estimates
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Seven months into the fiscal year, Pennsylvania's state tax collections are about $150 million more than officials estimated they would be.
Data released this afternoon from the Department of Revenue shows the commonwealth taking in $14.6 billion in revenues so far this fiscal year. That's 1.1 percent ahead of official projections for this point in the year.
The state maintained the above-estimate collection total despite January figures coming in about $18.8 million, or 0.8 percent, less than anticipated.
During the month of January, sales and inheritance tax revenues were below projections, but collections from income, corporate and realty transfer taxes exceeded estimates.
Much of the higher-than-expected tax collections for the year came from December's receipts, which outpaced projections by $112 million.
First Published February 3, 2013 12:20 am
