State Tax Collection Slightly above Projections
Tuesday, December 2, 2013
HARRISBURG - Pennsylvania's tax collections are slightly above projections, according to the latest figures from the revenue department. Officials announced
Monday that the state took in $9.9 billion in the first five months of its budget year, or less than 1 percent more than expected. The state income tax is running about $5.4 million below projections for the year, while sales, corporation and inheritance taxes are currently greater than anticipated. State revenue figures are closely watched within state government. Greater than expected income can ease the state budgeting process, while lagging tax collections can trigger precautionary moves ahead of the spring and summer budget season.