Allentown
77° F
Scattered Clouds
Scattered Clouds
Advertisement

Pennsylvania revenues slightly ahead after 5 months

Published On: Dec 03 2013 08:45:19 AM EST   Updated On: Dec 03 2013 02:11:44 PM EST
HARRISBURG, Pa. -

According to the latest figures from the Revenue Department, Pennsylvania's tax collections are slightly above projections.

Officials said the state took in $9.9 billion in the first five months of its budget year, or less than one 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.

Advertisement

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.