July 16, 2020 | News Stand & Other
In response to a legislative request, the Independent Fiscal Office examined how the COVID-19 pandemic and mandated business closures could impact local earned income taxes (EIT), property taxes and gaming revenues received by municipalities, counties and school districts for the current year.
July 14, 2020 | Natural Gas
Revenue Analyst Jesse Bushman made a presentation to the Center for Energy Policy and Management at Washington & Jefferson College regarding regional natural gas trends and how they are affecting the state's Impact Fee.
July 01, 2020 | Revenue & Economic Update
The Commonwealth collected $32.28 billion for FY 2019-20, a decline of $2.58 billion (-7.4 percent) from the prior fiscal year. The IFO projects that business closures and mitigation efforts related to the COVID-19 virus resulted in (1) $1.36 billion in lost revenue from reduced economic activity and (2) $1.91 billion that shifts to FY 2020-21 as a result of extended tax due dates.