Tom Corbett, Governor

Daniel Meuser, Secretary of Revenue

www.revenue.state.pa.us

Monthly Revenue Report

June 2014

IN THIS ISSUE:
GENERAL FUND

MOTOR LICENSE AND

GAMING FUNDS

Page 1

Page 2

GENERAL FUND
General Fund collections of $2,820.8 million for the
month of June were $23.8 million, or 0.9%, above the
official estimate. Fiscal year 2013-14 collections of
$28,607.2 million were below the official estimate by
$508.7 million, or 1.7%.
Total Corporation Tax collections of $542.8 million for the
month of June were $32.9 million, or 6.4%, above the
official estimate. Year-to-date collections are $83.0 million,
or 1.7%, below estimate.

REVENUE RECEIPTS FOR

SELECTED SPECIAL FUNDS

Page 2

REFUNDS OF TAXES

Page 2

Sales and Use Tax (SUT) collections of $886.6 million were

$43.5 million, or 5.2%, above estimate. Year-to-date
collections are $99.1 million, or 1.1%, below estimate.

KEY ECONOMIC INDICATORS

Page 3

GENERAL FUND GROWTH

Page 4

Total Personal Income Tax (PIT) collections of $1,093.8

million for the month of June were $3.0 million, or 0.3%,
above estimate. Year-to-date collections are $290.2 million,
or 2.5%, below the official estimate.

GENERAL FUND COMPARISON

OF ACTUAL TO ESTIMATE
JUNE 2014

MOTOR LICENSE
FUND GROWTH

MOTOR LICENSE FUND

COMPARISON OF ACTUAL TO
ESTIMATE JUNE 2014

Realty Transfer Tax (RTT) revenues of $40.3 million were

$2.1 million, or 4.9%, below estimate. Year-to-date
collections are $23.6 million, or 5.9%, below estimate.
Page 5

Page 6

Inheritance Tax revenues of $92.2 million were $1.1 million,

or 1.2%, above estimate. Year-to-date collections are $5.1
million, or 0.6%, below estimate.
Other tax revenue including Cigarette, Malt Beverage,
Liquor, Table Games, and other miscellaneous tax
collections totaled $132.9 million for the month of June.
Nontax revenue collections for the month of June were
below the official estimate by $53.0 million. Year-to-date
collections are $19.9 million above the official estimate.

Page 6

Page 1
Direct address changes, requests for inclusion on the mailing list, and any other inquiries to the Pennsylvania Department of Revenue,
Bureau of Research I 1147 Strawberry Square I Harrisburg, PA 171281100 I 717.787.6300 I FAX 717.787.6738.

Tom Corbett, Governor

Daniel Meuser, Secretary of Revenue

www.revenue.state.pa.us

MOTOR LICENSE AND GAMING FUNDS

Motor License Fund collections of $174.2 million in June were $42.1 million, or 19.5%, below
the official estimate. Fiscal year 2013-14 collections of $2,446.8 million were $22.0 million, or
0.9%, below the official estimate.
The State Gaming Fund collected $68.4 million in June. Fiscal year-to-date collections for the
fund total $796.5 million.

REVENUE RECEIPTS FOR SELECTED SPECIAL FUNDS

($ thousands)

FUND NAME

June
2014

June
2013

June
2012

YTD
2013-14

YTD
2012-13

YTD
2011-12

Lottery 1
Public Transportation Assistance
Game Commission
Fish
Racing
Banking
Fire Insurance
Municipal Pension
Highway/Bridge 2
State Gaming
Economic Development & Tourism

128,234
7,684
1,148
2,917
3,023
407
11,832
(9,978)
13,758
68,428
10,060

115,183
7,618
3,898
6,643
1,433
404
2,493
(3,587)
10,661
61,642
9,061

115,289
7,357
321
2,507
1,419
417
(7,234)
(3,039)
9,615
65,550
9,635

1,766,519
192,665
70,655
29,497
18,860
20,533
84,092
241,711
124,088
796,547
117,092

1,758,688
182,970
65,416
29,914
14,099
18,606
87,764
241,700
104,674
828,432
121,040

1,693,748
179,129
66,226
29,510
15,894
18,901
78,422
228,360
107,290
838,476
123,241

Excludes field paid prizes, commissions, and expenses.

Restricted receipts account within the Motor License Fund.

REFUNDS OF TAXES 1
($ thousands)

June
2014
General Fund:

June
2013

June
2012

YTD
2013-14

YTD
2012-13

YTD
2011-12

74,517

64,406

90,160

1,200,328

1,181,542

1,260,426

Corporation Taxes

7,582

13,934

48,639

400,035

400,358

422,973

Sales and Use Tax

14,174

10,118

12,987

143,343

152,119

114,303

Employer Tax
Personal Income Tax
Miscellaneous
Motor License Fund:
1

529

368

1,055

9,149

6,652

11,062

49,427

38,900

25,387

619,004

587,790

688,150

2,804

1,085

2,092

28,797

34,624

23,937

2,913

241

687

11,494

10,092

10,004

Refund numbers reflect amounts recorded by the Department of Revenue in the executive authorizations for refunds.

Page 2

Tom Corbett, Governor

Daniel Meuser, Secretary of Revenue

www.revenue.state.pa.us

KEY ECONOMIC INDICATORS

Employment - Total

5.9

600
590
580
570
560
550

Millions

$ Billions

Personal Income

5.8
5.7
5.6

4-week Moving Average of Initial Claims for

Unemployment Compensation

Thousands

Percent

Unemployment Rate

7.5
7.0
6.5
6.0
5.5

40
30
20
10
-

Electricity Price
Cents per Kilowatthour

Thousands

New Housing Permits

3.0
2.5
2.0
1.5
1.0
0.5
-

14.0
13.0
12.0

255
253
251
249
247

US Corporate Profits

$ Trillions

Index

Northeast Consumer Price Index

2.3
2.2
2.1
2.0
1.9

Data Source:
Personal Income and US Corporate Profits: US Bureau of Economic Analysis
Employment, Unemployment, Consumer Price Index: Bureau of Labor Statistics
Housing Permits: US Census Bureau
Electricity: Energy Information Administration
Initial Claims: PA Department of Labor and Industry
Notes:
Data is seasonally adjusted, except for Initial Claims, Housing Permits, Consumer Price Index, and Electricity.
All data is Pennsylvania specific, except for Consumer Price Index, which is for PA, NJ, NY, CT, RI, MA, VT, NH,
and ME, and Corporate Profits, which is for the US.

Page 3

Tom Corbett, Governor

Daniel Meuser, Secretary of Revenue

www.revenue.state.pa.us

GENERAL FUND GROWTH

($ thousands)

June
2014

June
2013

Growth

YTD
2013-14

YTD
2012-13

Growth

2,820,783
2,788,517
542,766
(99)
472,450
48,676
21,739
16,422
546
(1,231)
5,069
933

2,686,935
2,584,509
512,534
(10,473)
434,165
75,253
13,590
6,167
151
2,846
3,594
831

5.0%
7.9%
5.9%
99.1%
8.8%
-35.3%
60.0%
166.3%
261.6%
-143.3%
41.0%
12.2%

28,607,152
28,098,063
4,898,383
743
2,501,635
320,207
2,075,798
1,279,229
37,048
432,073
317,875
9,573

28,646,946
28,067,163
5,189,718
3,446
2,423,441
602,249
2,160,583
1,306,271
43,884
446,946
351,478
12,005

-0.1%
0.1%
-5.6%
-78.4%
3.2%
-46.8%
-3.9%
-2.1%
-15.6%
-3.3%
-9.6%
-20.3%

TOTAL - Consumption Taxes

Sales and Use
Non-Motor Vehicle
Motor Vehicle
Cigarette
Malt Beverage
Liquor

1,003,070
886,637
770,773
115,864
89,030
2,302
25,100

921,572
801,253
698,865
102,387
93,067
2,378
24,875

8.8%
10.7%
10.3%
13.2%
-4.3%
-3.2%
0.9%

10,452,537
9,129,621
7,892,041
1,237,580
976,908
25,096
320,912

10,254,196
8,893,715
7,726,133
1,167,581
1,024,081
25,152
311,248

1.9%
2.7%
2.1%
6.0%
-4.6%
-0.2%
3.1%

TOTAL - Other Taxes

Personal Income
Withholding
Non-Withholding
Realty Transfer
Inheritance
Table Games
Tavern Games
Minor and Repealed

1,242,680
1,093,760
688,765
404,995
40,313
92,160
6,903
31
9,513

1,150,403
1,025,790
666,084
359,706
34,096
75,193
6,685
0
8,638

8.0%
6.6%
3.4%
12.6%
18.2%
22.6%
3.3%

12,623,249
11,371,245
8,522,904
2,848,341
338,745
845,258
88,679
0
(20,678)

1.0%
0.6%
2.6%
-5.4%
10.8%
3.8%
2.0%

10.1%

12,747,144
11,437,304
8,743,820
2,693,484
375,408
877,423
90,451
43
(33,485)

-61.9%

32,266
0
41,117
6,541
34,576
(8,851)
0
(8,851)

102,425
80,000
20,466
6,278
14,187
1,960
0
1,960

-68.5%
-100.0%
100.9%
4.2%
143.7%
-551.6%
-100.0%
-551.6%

509,088
80,000
358,120
109,287
248,834
70,968
(0)
70,968

579,783
80,000
444,348
137,010
307,338
55,435
14,524
40,911

-12.2%
0.0%
-19.4%
-20.2%
-19.0%
28.0%
-100.0%
73.5%

REVENUE SOURCES
TOTAL - GENERAL FUND
TOTAL - TAX REVENUE
TOTAL - Corporation Taxes
Accelerated Deposits
Corporate Net Income
Capital Stock & Franchise
Selective Business Total
Gross Receipts
Utility Property
Insurance Premiums
Financial Institutions
Other

TOTAL - NONTAX REVENUE

Liquor Store Profits
Licenses, Fees & Misc. Total
Licenses and Fees
Miscellaneous
Fines, Penalties & Interest Total
FP&I On Taxes
FP&I Other

Page 4

Tom Corbett, Governor

Daniel Meuser, Secretary of Revenue

www.revenue.state.pa.us

GENERAL FUND COMPARISON OF

ACTUAL TO ESTIMATE - JUNE 2014
($ thousands)

REVENUE SOURCES

June
Actual

TOTAL - GENERAL FUND

TOTAL - TAX REVENUE
TOTAL - Corporation Taxes
Accelerated Deposits
Corporate Net Income
Capital Stock & Franchise
Selective Business Total
Gross Receipts
Utility Property
Insurance Premiums
Financial Institutions
Other

2,820,783
2,788,517
542,766
(99)
472,450
48,676
21,739
16,422
546
(1,231)
5,069
933

2,797,000
2,711,700
509,900
0
466,200
28,100
15,600
6,100
200
5,400
3,200
700

23,783
76,817
32,866
(99)
6,250
20,576
6,139
10,322
346
(6,631)
1,869
233

TOTAL - Consumption Taxes 1,003,070

Sales and Use
886,637
Non-Motor Vehicle
770,773
Motor Vehicle
115,864
Cigarette
89,030
Malt Beverage
2,302
Liquor
25,100

961,500
843,100
733,800
109,300
89,600
2,500
26,300

TOTAL - Other Taxes

Personal Income
Withholding
Non-Withholding
Realty Transfer
Inheritance
Table Games
Tavern Games
Minor and Repealed

1,242,680
1,093,760
688,765
404,995
40,313
92,160
6,903
31
9,513

TOTAL - NONTAX REVENUE

Liquor Store Profits
Licenses, Fees & Misc. Total
Licenses and Fees
Miscellaneous
Fines, Penalties & Interest Total
FP&I On Taxes
FP&I Other

32,266
0
41,117
6,541
34,576
(8,851)
0
(8,851)

June
Estimated

Difference
Amount
Percent

YTD
Actual

YTD
Estimated

1.3%
73.2%
39.4%
169.2%
173.1%
-122.8%
58.4%
33.2%

28,607,152
28,098,063
4,898,383
743
2,501,635
320,207
2,075,798
1,279,229
37,048
432,073
317,875
9,573

29,115,900
28,626,700
4,981,400
0
2,482,100
319,800
2,179,500
1,312,800
44,000
444,800
366,400
11,500

(508,748)
(528,637)
(83,017)
743
19,535
407
(103,702)
(33,571)
(6,952)
(12,727)
(48,525)
(1,927)

0.8%
0.1%
-4.8%
-2.6%
-15.8%
-2.9%
-13.2%
-16.8%

41,570
43,537
36,973
6,564
(570)
(198)
(1,200)

4.3%
5.2%
5.0%
6.0%
-0.6%
-7.9%
-4.6%

10,452,537
9,129,621
7,892,041
1,237,580
976,908
25,096
320,912

10,577,600
9,228,700
7,982,100
1,246,600
995,700
26,000
327,200

(125,063)
(99,079)
(90,059)
(9,020)
(18,792)
(904)
(6,288)

-1.2%
-1.1%
-1.1%
-0.7%
-1.9%
-3.5%
-1.9%

1,240,300
1,090,800
695,200
395,600
42,400
91,100
7,200
0
8,800

2,380
2,960
(6,435)
9,395
(2,087)
1,060
(297)
31
713

0.2%
0.3%
-0.9%
2.4%
-4.9%
1.2%
-4.1%

12,747,144
11,437,304
8,743,820
2,693,484
375,408
877,423
90,451
43
(33,485)

13,067,700
11,727,500
8,827,600
2,899,900
399,000
882,500
93,100
0
(34,400)

(320,556)
(290,196)
(83,780)
(206,416)
(23,592)
(5,077)
(2,649)
43
915

-2.5%
-2.5%
-0.9%
-7.1%
-5.9%
-0.6%
-2.8%

85,300
80,000
14,800
4,800
10,000
(9,500)
0
(9,500)

(53,034)
(80,000)
26,317
1,741
24,576
649
0
649

-62.2%
-100.0%
177.8%
36.3%
245.8%
6.8%

509,088
80,000
358,120
109,287
248,834
70,968
(0)
70,968

489,200
80,000
334,400
100,700
233,700
74,800
0
74,800

19,888
0
23,720
8,587
15,134
(3,832)
(0)
(3,832)

4.1%
0.0%
7.1%
8.5%
6.5%
-5.1%

0.9%
2.8%
6.4%

8.1%

6.8%

Difference
Amount
Percent
-1.7%
-1.8%
-1.7%

2.7%

-5.1%

Page 5

Tom Corbett, Governor

Daniel Meuser, Secretary of Revenue

www.revenue.state.pa.us

MOTOR LICENSE FUND GROWTH

($ thousands)

REVENUE SOURCES

June
2014

June
2013

TOTAL - MOTOR LICENSE FUND

TOTAL - Liquid Fuels Taxes
Liquid Fuels
Fuels
Motor Carriers/IFTA
Alternative Fuels
Oil Company Franchise
Act 89 OCFT - Fuels
Act 89 OCFT Liquid Fuels

174,176
105,275
2,708
12
2,214
252
69,673
12,755
17,660

173,639
109,699
49,773
14,207
4,666
118
40,934
0
0

65,562
2,588
6,808
(923)
50,461
6,628
3,338
0
0
1,001
(890)
57
0
3,171
0
0

Total - Licenses and Fees

Special Hauling Permits
Registrations Other States-IRP
Operators Licenses
Vehicle Registrations & Titling
Miscellaneous Collections
Total - Other Motor Receipts
Gross Receipts
Vehicle Code Fines
Miscellaneous - Treasury
Miscellaneous - Transportation
Miscellaneous - General Services
Miscellaneous - Revenue
Vehicle Code Fines Clearing Acct.
PA Turnpike Commission
Justice Collections

YTD
2013-14

YTD
2012-13

0.3%
-4.0%
-94.6%
-99.9%
-52.6%
114.6%
70.2%

2,446,766
1,294,432
320,927
95,060
35,786
1,911
534,086
62,568
244,094

2,416,239
1,223,141
576,337
151,984
48,367
1,359
445,094
0
0

1.3%
5.8%
-44.3%
-37.5%
-26.0%
40.6%
20.0%

70,188
2,501
216
4,063
61,217
2,191

-6.6%
3.5%
3053.1%
-122.7%
-17.6%
202.5%

893,886
26,863
95,674
54,462
686,019
30,869

892,517
27,992
86,993
61,459
687,928
28,145

0.2%
-4.0%
10.0%
-11.4%
-0.3%
9.7%

(6,248)
0
(8,897)
1,198
1,791
80
0
(421)
0
0

153.4%

258,447
0
248
35,721
16,000
1,159
0
5,319
200,000
0

300,581
0
29,085
47,228
21,737
1,681
0
848
200,000
0

-14.0%

Growth

100.0%
-16.5%
-149.7%
-29.2%
854.0%

Growth

-99.1%
-24.4%
-26.4%
-31.1%
-100.0%
527.2%
0.0%

MOTOR LICENSE FUND COMPARISON OF

ACTUAL TO ESTIMATE - JUNE 2014
($ thousands)

REVENUE SOURCES
TOTAL - MOTOR LICENSE FUND
TOTAL - Liquid Fuels Taxes
Liquid Fuels
Fuels
Motor Carriers/IFTA
Alternative Fuels
Oil Company Franchise
Act 89 OCFT - Fuels
Act 89 OCFT Liquid Fuels
TOTAL - Licenses and Fees
TOTAL - Other Motor Receipts

June
Actual

June
Estimated

Difference
Amount
Percent

YTD
Actual

YTD
Estimated

Difference
Amount
Percent

2,468,800
1,323,600
329,500
88,300
51,700
1,200
550,600
62,900
239,400

(22,034)
(29,168)
(8,573)
6,760
(15,914)
711
(16,514)
(332)
4,694

-0.9%
-2.2%
-2.6%
7.7%
-30.8%
59.3%
-3.0%
-0.5%
2.0%

174,176
105,275
2,708
12
2,214
252
69,673
12,755
17,660

216,270
135,330
0
0
7,900
130
61,200
13,300
52,800

(42,094)
(30,055)
2,708
12
(5,686)
122
8,473
(545)
(35,140)

-19.5%
-22.2%

-72.0%
94.1%
13.8%
-4.1%
-66.6%

2,446,766
1,294,432
320,927
95,060
35,786
1,911
534,086
62,568
244,094

65,562

76,900

(11,338)

-14.7%

893,886

871,400

22,486

2.6%

3,338

4,040

(702)

-17.4%

258,447

273,800

(15,353)

-5.6%

Page 6