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2020 Impact Fee Estimate

This report uses recent data published by the Department of Environmental Protection to project CY 2020 Impact Fee collections (remitted April 2021). Collections are estimated to be $144.9 million, a decrease of $55.9 million from the prior year.

Tags: collections, gas

July 2021 Revenue Update

The Commonwealth collected $2.70 billion in General Fund revenues for July, a decrease of $1.40 billion (-34.2%) compared to July 2020. July 2020 collections included roughly $1.62 billion in revenue that was shifted from FY 2019-20 due to the COVID-19 pandemic. Excluding this shift, July 2021 revenues exceeded the prior year by $216.2 million (8.7%).

08/02/2021

Impact Fee Update and Outlook 2021

This update examines 2020 impact fee collections and provides an outlook for 2021. The Commonwealth collected $146.3 million in impact fees for 2020, a $54.1 million decrease from 2019 and the lowest amount since the fee's inception.

06/09/2021

School District Property Tax Forecast

This report contains the IFO's forecast of school district property tax collections from FY 2019-20 to FY 2025-26. The report also contains projections of the Act 1 index and estimates of school district property taxes attributable to homestead property. (This report was originally posted on February 2, 2021. Based on new data for the 2020 Q4 ECI, which impacts the FY 2020-21 ECI computation, this report was updated and reposted.)

02/24/2021

2020 Impact Fee Estimate

This report uses recent data published by the Department of Environmental Protection to project CY 2020 Impact Fee collections (remitted April 2021). collections are estimated to be $144.9 million, a decrease of $55.9 million from the prior year.

01/05/2021

Impact Fee Update and 2020 Outlook

This report examines impact fee collections for 2019 and provides an outlook for 2020.

06/25/2020

May 2020 Revenue Update

The Commonwealth collected $2.11 billion in General Fund revenues for May, a decline of $510.7 million compared to May 2019. The IFO estimates that the COVID-19 virus reduced monthly collections by $515 million due to the impact of continued business closures and other mitigation efforts to slow the spread of the COVID-19 virus.

06/01/2020

April 2020 Revenue Update

The Commonwealth collected $2.18 billion in General Fund revenues for April, a decline of $2.23 billion compared to April 2019. The IFO estimates that the COVID-19 virus reduced monthly collections by $2.12 billion due to business closures, delayed payment processing and the extension of some tax due dates.

05/01/2020

March 2020 Revenue Update

The Commonwealth collected $4.4 billion in General Fund revenues for March, a decline of $118.1 million compared to March 2019. The IFO estimates that the outbreak of the COVID-19 virus reduced monthly collections by $200 million.

04/01/2020

School District Property Tax Forecast

This report contains the IFO's forecasted school district property tax collections from FY 2018-19 through FY 2024-25. The report also contains projections of the Act 1 index and estimates of school district property taxes that can be attributed to homesteads. Total school property tax collections for FY 2018-19 ($15.0 billion) and FY 2019-20 ($15.3 billion) are estimated using millage rates published by the Pennsylvania Department of Education and property tax assessment data. For FY 2020-21 through FY 2024-25, collections are projected based on the statutory, economic and structural factors that affect growth rates of property taxes. During that period, total school property tax collections are projected to grow at an average annual rate of 3.9 percent, reaching $18.6 billion by FY 2024-25.

02/06/2020

2019 Impact Fee Estimate

This research brief uses recent data published by the Department of Environmental Protection to project CY 2019 Impact Fee collections. collections are estimated to be $198.2 million, a decrease of $53.6 million from the prior year.

01/09/2020

Impact Fee Update and 2019 Outlook

This report examines impact fee collections for 2018 and provides an outlook for 2019.

06/28/2019

SCHOOL DISTRICT PROPERTY TAX FORECAST

This report contains the IFO's forecasted school district property tax collections from FY 2017-18 through FY 2023-24. The report also contains projections of the Act 1 index and estimates of school district property taxes that can be attributed to homesteads. Total school property tax collections for FY 2017-18 ($14.5 billion) and FY 2018-19 ($14.9 billion) are estimated using millage rates published by the Pennsylvania Department of Education and property tax assessment data. For FY 2019-20 through FY 2023-24, collections are projected based on the statutory, economic and structural factors that affect growth rates of property taxes. During that period, total school property tax collections are projected to grow by an average annual rate of 3.2 percent, reaching $17.3 billion by FY 2023-24.  

03/18/2019

Economic & Budget Outlook Presentation

Deputy Director Brenda Warburton gave a presentation at a session of the Pennsylvania Education Policy Fellowship Program regarding the Commonwealth's economic and budget outlook. The presentation summarized the office's five year economic and budget outlook (November 2018) as well as more recent updates to the office's revenue estimates for FY 2018-19 and FY 2019-20 (January 2019). The presentation also addressed the office's most recent estimate for school property tax collections.

03/01/2019

2018 IMPACT FEE ESTIMATE - JANUARY 2019

This research brief uses recent data published by the Department of Environmental Protection to project CY 2018 Impact Fee collections.

01/24/2019

Impact Fee Update and 2018 Outlook

This report examines 2017 impact fee collections and natural gas production in Pennsylvania. It also provides an outlook for 2018.

06/28/2018

2017 Impact Fee Estimate - January 2018

This research brief uses recent data published by the Department of Environmental Protection to project CY 2017 Impact Fee collections in Pennsylvania. Revised for technical factor on 2/22/2018.

01/19/2018

School District Property Tax Forecast

This research brief contains the IFO's forecasted school district property tax collections from FY 2016-17 through FY 2022-23. The brief also contains estimates of school district property tax collections that can be attributed to homestead property.  Total school property tax collections for FY 2016-17 ($14.0 billion) and FY 2017-18 ($14.4 billion) are estimated using millage rates published by the Pennsylvania Department of Education and property tax assessment data. For FY 2018-19 through FY 2022-23, collections are projected based on the statutory, economic and structural factors that affect growth rates of property taxes. During that period, total school property tax collections are projected to grow by an average annual rate of 3.3 percent, reaching $17.0 billion by FY 2022-23.

01/18/2018

School Property Taxes; Households Age 60, 65 and 70 or Older

In response to a legislative request, the IFO analyzed data from the American Community Survey (ACS) to estimate the share of school property taxes paid by households in which the householder (or spouse, if applicable) had attained the ages 60 or over, 65 or over and 70 or over. The analysis applies the shares derived from the ACS to estimated school district property tax collections attributable to homestead properties for FY 2015-16 to further estimate the dollar amounts paid by such households.

12/11/2017

Quarterly Revenue Review 2017 Q3

The IFO produces this report to facilitate comparison of its quarterly revenue estimates with actual revenue collections. The report also provides context for the variances between estimates and actual collections.

11/03/2017

Quarterly Revenue Review 2017 Q2

The IFO produces this report to facilitate comparison of its quarterly revenue estimates with actual revenue collections. The report also provides context for the variances between estimates and actual collections.

08/02/2017

Impact Fee Update and 2017 Outlook

This research brief examines 2016 impact fee collections and natural gas production in Pennsylvania. It also provides an outlook for 2017. 

07/04/2017

Quarterly Revenue Review 2017 Q1

The IFO produces this report to facilitate comparison of its quarterly revenue estimates with actual revenue collections. The report also provides context for the variances between estimates and actual collections.

05/05/2017

Philadelphia Cigarette & Beverage Tax Impact

The IFO responds to a request regarding the impact of Philadelphia’s local cigarette and beverage taxes on state revenue collections. The letter has been revised to include current footnotes 3 and 6, which provide additional context for the assumptions used by the analysis.  (Revised on March 20, 2017)

03/13/2017

Long-Term Fiscal Outlook

Deputy Director Mark Ryan made a presentation at a session of the Pennsylvania Education Policy Fellowship Program regarding the Commonwealth's long-term fiscal outlook. The presentation summarized the office's five-year economic and budget outlook (November 2016) as well as more recent updates to the office's revenue estimates for FY 2016-17 and FY 2017-18 (January 2017). The presentation also addressed the office's most recent estimate for school property tax collections.

02/10/2017

Quarterly Revenue Review 2016 Q4

The IFO produces this report to facilitate comparison of its quarterly revenue estimates with actual revenue collections. The report also provides context for the variances between estimates and actual collections.

01/24/2017

Updated School District Property Tax Forecast

Letter updating the IFO's forecast of school district property tax collections for FY 2015-16 through FY 2021-22. The letter also includes projections of school district debt service payments and earned income tax collections for FY 2015-16 through FY 2021-22. Total school property tax collections for FY 2015-16 ($13.6 billion) and FY 2016-17 ($13.9 billion) are estimated using millage rates published by the Pennsylvania Department of Education. For FY 2017-18 through FY 2021-22, collections are projected based on a forecast of the Act 1 index and exceptions. During that period, total school property tax collections are projected to grow by an average annual rate of 3.5 percent, reaching $16.5 billion by FY 2021-22. Prior reports / references: (1) 2013 IFO analysis of HB / SB 76 and (2) 2014 update of the school property tax forecast.

01/09/2017

2016 Impact Fee Estimate - January 2017

This research brief uses recent data published by the Department of Environmental Protection to project CY 2016 Impact Fee collections in Pennsylvania.

01/02/2017

Quarterly Revenue Review 2016 Q3

The IFO produces this report to facilitate comparison of its quarterly revenue estimates with actual revenue collections. The report also provides context for the variances between estimates and actual collections.  Fiscal Year 2016-17 2016 Q3 (July to September 2016)

10/27/2016

Impact Fee Update and 2016 Outlook

This research brief examines 2015 impact fee collections and natural gas production in Pennsylvania. It also provides an outlook for 2016. 

07/14/2016

Impact Fee Update - February 2016

This research brief uses recent data published by the Department of Environmental Protection to project CY 2015 Impact Fee collections in Pennsylvania. 

02/29/2016

Updated School District Property Tax Forecast

Letter updating the IFO's forecast of school property tax collections for FY 2013-14 through FY 2019-20 (December 2014). 

12/12/2014

Natural Gas Extraction: An Interstate Tax Comparison

This report compares Pennsylvania's unique natural gas tax structure to other states. The report also considers other taxes that may be levied on natural gas producers such as real and personal property, corporate and personal income, sales and use and miscellaneous fees. Due to the complexity of the analysis, readers are encouraged to thoroughly review the methodology and assumptions contained in Section 1 of this report. Full report Analysis-in-Brief (2 pages) Background on effective tax rates (2 pages, updated 4/4/2014 for the 2013 reporting year impact fee collections)

03/17/2014

Analysis of Proposal to Replace School Property Taxes: House Bill 76 and Senate Bill 76

This report presents the results from an analysis of House Bill 76 and Senate Bill 76 performed by the Independent Fiscal Office (IFO). The proposed legislation eliminates local school district property taxes and replaces those funds with sales and use and personal income taxes, as well as monies redirected from the Property Tax Relief Fund. Presentation to the Senate Finance Committee on 10/15/2013. Data for the graphs in section 4 of the report that display the annual and cumulative changes in personal income, sales and school property tax collections. Introduction, which contains summary results from the report.

10/01/2013

RB-2020-COVID-19 Local Revenue Impact.pdf

that part of the EIT base is assumed to fall by 15 percent across all counties. The impact on EIT collections will depend on the portion of the EIT base comprised of net profits for each county. Table 1 lists historical pandemic. (Note: The municipal data exclude Philadelphia due to large fluctuations in historical growth rates. Moreover, the reported amounts reflect collections at the much higher city rates on wages and earnings for residents and commuters, and the city has a fiscal

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Official-Revenue-Estimate-Methodology-2019-06.pdf

uncorrelated and had constant variance over time. Cash Flow Method Under the cash flow method, firms act as collection agents for the Commonwealth and remit weekly or monthly tax collections based on recent transactions. Payment rules are simple and refunds are generally not paid because firms merely forward any taxes they collect

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Revenue-Estimate-2019-05.pdf

Pennsylvania. However, the tax law change did manifest itself through higher sales tax and corporate net income tax collections, and those impacts are discussed in the next section. 2018.1 2018.2 2018.3 2018.4 2019.1 Real GDP 0 motivate most of the growth in sales tax revenues because Pennsylvania consumers effectively pay the majority of those collections. Since 2012, Pennsylvania wage growth generally ranged from 2.5 to 4.0 percent per annum. However, more recent data reveal growth

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Official-Revenue-Estimate-2019-06.pdf

Pennsylvania. However, the tax law change did manifest itself through higher sales tax and corporate net income tax collections, and those impacts are discussed in the next section. 2018.1 2018.2 2018.3 2018.4 2019.1 2019.2 Real motivate most of the growth in sales tax revenues because Pennsylvania consumers effectively pay the majority of those collections. Since 2012, Pennsylvania wage growth generally ranged from 2.5 to 4.0 percent per annum. However, more recent data reveal growth

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SD-Property-Tax-Forecast-2020.pdf

the Pennsylvania Department of Education (PDE, or department) is for fiscal year (FY) 2017-18. For that year, current-year collections were $13.5 billion, Act 1 allocations were $533 million and delinquent collections were $535 million, resulting in a total of $14.6 billion for school district revenues related to the property tax

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RB-2018-01.pdf

the Pennsylvania Department of Education (PDE, or department) is for fiscal year (FY) 2015-16. For that year, current-year collections were $12.6 billion, Act 1 allocations were $530 million and delinquent collections were $569 million, resulting in a total of $13.7 billion for school district revenues related to the property tax

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MRU-2020-3.pdf

the COVID-19 virus, the corresponding business closures and other mitigation efforts had a significant impact on March 2020 revenue collections. Compared to the monthly projections released by the Independent Fiscal Office (IFO) in August 2019, March collections of $4.4 billion were $331.8 million (-7.0 percent) below estimate. (See table on next page.) The IFO

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SD-Property-Tax-Forecast-2019.pdf

the Pennsylvania Department of Education (PDE, or department) is for fiscal year (FY) 2016-17. For that year, current-year collections were $13.1 billion, Act 1 allocations were $532 million and delinquent collections were $552 million, resulting in a total of $14.1 billion for school district revenues related to the property tax

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2021-SD-Property-Tax-Forecast.pdf

the Pennsylvania Department of Education (PDE, or department) is for fiscal year (FY) 2018- 19. For that year, current-year collections were $13.9 billion, Act 1 allocations were $533 million and delinquent collections were $551 million, resulting in a total of $15.0 billion for school district revenues related to the property tax

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Official_Revenue_Estimate_Methodology_2021.pdf

normally distributed, uncorrelated and had constant variance over time. Cash Flow Method Under the cash flow method, firms act as collection agents for the Commonwealth and remit weekly or monthly tax collections based on recent transactions. Payment rules are simple and refunds are generally not paid because firms merely forward any taxes

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Official-Revenue-Estimate-Methodology-2020-6.pdf

of the phased reopening for Pennsylvania businesses. Cash Flow Method Under the cash flow method, firms act as collection agents for the Commonwealth and remit weekly or monthly tax collections based on recent transactions. Payment rules are simple and refunds are generally not paid because firms merely forward any taxes they collect

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Impact-Fee-Update-2018-Outlook-2018-06.pdf

day are exempt from the fee in any operating year. This report (1) analyzes calendar year (CY) 2017 impact fee collections (remitted in April 2018) reported by the Public Utility Commission (PUC), (2) details the number of wells and fee schedule by operating year and (3) discusses two potential scenarios for CY 2018 collections. It also translates the impact fee into an annual average effective tax rate (ETR) based on recent natural gas price

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Independent Fiscal Office

exporter of electricity in the country. ... (Full Report) August 2021 Revenue Update Revenue & Economic Update September 01, 2021 The Commonwealth collected $2.57 billion in General Fund revenues for August, an increase of $25.9 million (1.0%) compared to August Natural Gas Production Report, 2021Q2 Natural Gas August 24, 2021 This report for the second quarter of 2021 uses data collected by the PA Department of Environmental Protection to develop statewide and county-level tabulations of production volume and well counts

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QRR_2015Q2.pdf

Introduction The Independent Fiscal Office (IFO) produces this report to facilitate comparison of its quarterly revenue estimates with actual revenue collections. The report also provides context for the variances between estimates and actual collections. The revenue estimates in this report are taken from Fiscal Year 2014-15 Quarterly Revenue Estimates published by the IFO

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MTR-2019-02.pdf

July 30th, the Independent Fiscal Office (IFO) released monthly revenue projections for fiscal year (FY) 2018-19. 1 General Fund collections were $59.3 million (3.0%) above estimate for February and $379.9 million (1.9%) above estimate for the fiscal year-to-date (FYTD). The monthly surplus was largely due to higher than anticipated corporate net income tax (CNIT) collections. Monthly CNIT collections were above estimate ($41.4 million). The surplus was due to both final ($24.7 million) and

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MTR-2019-01.pdf

July 30th, the Independent Fiscal Office (IFO) released monthly revenue projections for fiscal year (FY) 2018-19. 1 General Fund collections were $99.1 million (-3.3%) below estimate for January and $320.6 million (1.8%) above estimate for the significant decline in PIT estimated payments. Monthly SUT revenues were $31.0 million over estimate. Non- motor and motor vehicle collections came in 2.8% and 6.3% over estimate, respectively. FYTD SUT revenues exceed estimate ($205.3 million) with higher

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Impact-Fee-Update-Outlook-2019-06.pdf

day are exempt from the fee in any operating year. This report (1) analyzes calendar year (CY) 2018 impact fee collections (remitted in April 2019) reported by the Public Utility Commission (PUC), (2) details the number of wells and fee schedule by operating year and (3) discusses two potential scenarios for CY 2019 collections. It also translates the impact fee into an annual average effective tax rate (ETR) based on recent natural gas price

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MTR-2019-04.pdf

July 30th, the Independent Fiscal Office (IFO) released monthly revenue projections for fiscal year (FY) 2018-19. 1 General Fund collections exceeded estimate for April ($508.6 million) and are $890.5 million (3.1%) above estimate for the fiscal year- was driven by unusually strong personal income tax (PIT), sales and use tax (SUT) and corporate net income tax (CNIT) collections. PIT collections were above estimate by $313.7 million for the month, with overages in annual ($279.4 million), estimated

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MTR-2018-12.pdf

July 30th, the Independent Fiscal Office (IFO) released monthly revenue projections for fiscal year (FY) 2018-19. 1 General Fund collections were $80.8 million (2.9%) above estimate for December and $419.7 million (2.8%) above estimate for the and other tax revenues also came in higher than expected, while personal income tax (PIT) fell below estimate. December CNIT collections surpassed projections by $38.9 million. The overage was driven entirely by strong estimated payments. CNIT collections for the year

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MTR-2018-10.pdf

July 30th, the Independent Fiscal Office (IFO) released monthly revenue projections for fiscal year (FY) 2018-19. 1 General Fund collections were $19.5 million (-0.8 percent) below estimate for October and $184.8 million (1.9 percent) above estimate for the fiscal year-to-date (FYTD). October shortfalls in corporate net income tax (CNIT) and non-tax collections were partially offset by overages in gross receipts tax, sales and use tax (SUT) and inheritance tax. October CNIT collections

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MTR-2018-09.pdf

July 30th, the Independent Fiscal Office (IFO) released monthly revenue projections for fiscal year (FY) 2018-19. 1 General Fund collections were $137.8 million (4.7 percent) above estimate for September and $204.3 million (2.8 percent) above estimate for the fiscal year-to-date (FYTD). General Fund collections for September were above estimate primarily due to overages in corporate net income tax (CNIT), sales and use tax (SUT

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Impact-Fee-Update-2017-Outlook-2017-07.pdf

90 Mcf per day are exempt from the fee in any operating year. The Public Utility Commission (PUC) recently reported collections of $173.3 million for calendar year (CY) 2016 (remitted in April 2017), which was a moderate decline from the details the number of wells and fee schedule by operating year and (3) discusses two potential scenarios for CY 2017 collections. It also translates the impact fee into an annual average effective tax rate (ETR) based on recent natural gas price

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Revenue-Estimate-2020-05.pdf

In order to quantify those impacts, the analysis must make a counterfactual projection of economic growth and revenue collections that would have occurred under “normal” conditions (i.e., in the absence of the pandemic and consequent mitigation efforts). For that forecast Salaries -$24.8 -$20.0 Taxable Business Income -$8.7 -$8.3 Payroll Employment (000s) -540 -228 Revenue Collections 2019-20 2020-21 General Fund (include shifts) -$3.9 -$0.9 General Fund (exclude shifts) -$1.8 -$3.0 Table 1

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Official-Revenue-Estimate-2020-06.pdf

In order to quantify those impacts, the analysis must make a counterfactual projection of economic growth and revenue collections that would have occurred under “normal” conditions (i.e., in the absence of the pandemic and consequent mitigation efforts). For that forecast Salaries -$24.8 -$21.7 Taxable Business Income -$8.7 -$8.3 Payroll Employment (000s) -498 -233 Revenue Collections FY 19-20 FY 20-21 General Fund (include shifts) -$3.7 -$1.1 General Fund (exclude shifts) -$1.7 -$3.1

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MTR-2019-03.pdf

July 30th, the Independent Fiscal Office (IFO) released monthly revenue projections for fiscal year (FY) 2018-19. 1 General Fund collections met estimate for March (+$2.0 million) and are $381.9 million (1.6%) above estimate for the fiscal year- income tax (CNIT) and insurance premiums tax offset shortfalls in gross receipts tax, cigarette tax and non-tax revenues. PIT collections were above estimate by $10.0 million for the month. The overage was due to withholding ($5.7 million) and

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MTR-2018-11.pdf

July 30th, the Independent Fiscal Office (IFO) released monthly revenue projections for fiscal year (FY) 2018-19. 1 General Fund collections were $154.1 million (7.1%) above estimate for November and $338.9 million (2.8%) above estimate for the and other tax revenues also came in higher than expected, while personal income tax (PIT) fell below estimate. November CNIT collections surpassed projections by $72.7 million. The overage was driven almost entirely by strong final payments for older tax years

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Impact_Fee_Update_Outlook_2021.pdf

day are exempt from the fee in any operating year. This report (1) analyzes calendar year (CY) 2020 impact fee collections (remitted in April 2021) reported by the Public Utility Commission (PUC), (2) details the number of wells and fee schedule by operating year and (3) discusses two potential scenarios for CY 2021 collections. It also translates the impact fee into an annual average effective tax rate (ETR) based on recent natural gas price

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REU-2019-11.pdf

than expected corporate net income tax (CNIT), sales and use tax (SUT) non-motor and personal income tax (PIT) withholding collections, which were partially offset by weak SUT motor vehicle tax collections. November CNIT collections were $10.0 million over estimate (7.8 percent) due to higher than anticipated estimated payments ($8

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Impact-Fee-Update-Outlook-2020.pdf

day are exempt from the fee in any operating year. This report (1) analyzes calendar year (CY) 2019 impact fee collections (remitted in April 2020) reported by the Public Utility Commission (PUC), (2) details the number of wells and fee schedule by operating year and (3) discusses two potential scenarios for CY 2020 collections. It also translates the impact fee into an annual average effective tax rate (ETR) based on recent natural gas price

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Revenue_Estimate_2021_05.pdf

show the dramatic increase in Lottery sales in response to the first round of EIPs, but a reduction for SUT collections because many businesses were closed (e.g., restaurants and car dealerships). In 2020 Q3, car sales rebounded strongly, and to SUT and instant ticket sales in 2021 Q2. Relative to 2019 Q2, instant ticket sales increased by 31% and SUT collections by 18% to 21%. 4 These series are clearly motivated by EIPs, and the forecast assumes a reversion to historical

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REU-2019-10.pdf

due to stronger than expected sales and use tax (SUT), personal income tax (PIT) and corporate net income tax (CNIT) collections. October SUT collections were $41.0 million over estimate (4.1 percent) due almost entirely to higher than anticipated non-motor revenue, which

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MTR-2019-05.pdf

the Independent Fiscal Office (IFO) released monthly revenue projections for fiscal year (FY) 2018-19. 1 For May, General Fund collections exceeded estimate ($17.4 million) and are $907.8 million (2.9 percent) above estimate for the fiscal year-to-date (FYTD). The monthly outcome was the result of strong collections in sales and use tax (SUT) countered by weaker than expected collections in personal income tax (PIT). SUT collections surpassed

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MTR-2018-07.pdf

2018 and (2) adjustments to reflect the impact of statutory changes that were enacted after June 18th. 1 General Fund collections were $12 million (0.5 percent) above estimate for July, primarily due to higher than anticipated motor vehicle sales and use tax (SUT, $17 million), non-motor SUT ($7 million) and insurance premiums tax ($20 million) collections that were partially offset by lower than anticipated escheats collections (-$22 million). Personal income tax (PIT) and corporate net income

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MRU_2021_07.pdf

the Independent Fiscal Office (IFO) will release monthly revenue projections for fiscal year (FY) 2021-22. For July, General Fund collections were $2.70 billion, or $1.40 billion (-34.2%) below prior year collections. July 2020 collections included roughly $1.62 billion in revenue that was shifted from FY 2019-20 due to the

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MRU_2021_02.pdf

In February, General Fund revenue collections of $2.68 billion were $509.7 million (23.4 percent) above the monthly projections associated with the Independent Fiscal Estimate published in January 2021. The overage was largely the result of a temporary shift in personal income tax (PIT) collections. Fiscal-year-to-date (FYTD) collections are $23.87 billion, or $267.5 million (1.1 percent) above estimate. Corporate

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MRU_2020_11.pdf

For November, revenue collections were $2.34 billion, which was $90.9 million above the monthly projections associated with the Independent Fiscal Office’s The monthly outcome was due to stronger than expected sales and use tax (SUT) and corporate net income tax (CNIT) collections, which were largely offset by lower than expected personal income tax (PIT) withholding collections. Withholding collections in November were reduced

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MRU-2020-06.pdf

June revenue collections of $2.67 billion fell short of monthly projections released by the Independent Fiscal Office (IFO) in August 2019 by percent). The shortfall is almost entirely attributable to the impact of the COVID-19 virus. Fiscal year (FY) 2019-20 collections totaled $32.28 billion, $3.24 billion (-9.1 percent) below estimate. The shortfall roughly consists of: (1) $1.36

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June_Revenue_Estimate_2021.pdf

show the dramatic increase in Lottery sales in response to the first round of EIPs, but a reduction for SUT collections because many businesses were closed (e.g., restaurants and car dealerships). In 2020 Q3, car sales rebounded strongly, and to SUT and instant ticket sales in 2021 Q2. Relative to 2019 Q2, instant ticket sales increased by 34% and SUT collections by 20% to 22%. These series are clearly motivated by EIPs, and the forecast assumes a reversion to historical patterns

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MTR-2019-06.pdf

the Independent Fiscal Office (IFO) released monthly revenue projections for fiscal year (FY) 2018-19. 1 For June, General Fund collections exceeded estimate by $50.9 million (1.7 percent) and were $958.7 million (2.8 percent) above estimate for the year. The FY overage was primarily generated by stronger than anticipated collections related to corporate net income tax (CNIT), sales and use tax (SUT), personal income tax (PIT) annual payments and licenses

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MRU_2021_04.pdf

General Fund revenue collections were $3.96 billion in April, $277.2 million (-6.5%) lower than the monthly projections associated with the Independent Official Estimate published in January 2021. The monthly shortage was primarily due to lower than expected personal income tax (PIT) collections. Fiscal-year-to-date (FYTD) General Fund collections are $32.68 billion, which are $274.5 million (0.8%) above

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MRU-2020-10.pdf

Revenue collections for October were $2.59 billion, which was $275.2 million (11.9 percent) above the monthly projection associated with sales and use tax (SUT), personal income tax (PIT) and corporate net income tax (CNIT). Fiscal year-to-date (FYTD) collections exceed estimate by $1.01 billion (8.8 percent). SUT revenues for October totaled $1,089.4 million, $132.5

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Revenue-Estimate-Performance-2021-09.pdf

2011) through June 2021. That time period covers nine complete budget cycles. For each fiscal year, this document compares actual collections to the IFO’s revenue estimates made at three specific times during the fiscal year, as required by the statute FY 2020-21 was released on January 21, 2021. The update is based on a revised economic forecast and revenue collections for the first half of the fiscal year.  May Update This revenue estimate occurs in May of the same

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QRR_2015Q1.pdf

Introduction The Independent Fiscal Office (IFO) produces this report to facilitate comparison of its quarterly revenue estimates with actual revenue collections. The report also provides context for the variances between estimates and actual collections. The revenue estimates in this report are taken from Fiscal Year 2014-15 Quarterly Revenue Estimates published by the IFO

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QRR_2014Q4.pdf

Introduction The Independent Fiscal Office (IFO) produces this report to facilitate comparison of its quarterly revenue estimates with actual revenue collections. The report also provides context for the variances between estimates and actual collections. The revenue estimates in this report are taken from Fiscal Year 2014-15 Quarterly Revenue Estimates published by the IFO

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MTR-2019-08.pdf

Independent Fiscal Office (IFO) released monthly revenue projections for fiscal year (FY) 2019-20. Compared to those estimates, General Fund collections of $2,192.9 million in August were $67.1 million (3.2 percent) above estimate. The overage was largely attributable to sales and use tax (SUT) and personal income tax (PIT). Fiscal-year-to- date (FYTD) collections are short of estimate by $24.8 million (-0.5 percent). August SUT collections were $28.9 million (3.1

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MTR-2018-06.pdf

2017-18 official revenue estimate (originally published in June 2017) and corresponding revised monthly projections. 1 For June, General Fund collections were $154 million (-4.7 percent) below estimate due to the lack of a funds transfer ($200 million) from the in the updated official estimate per Act 44, but was blocked as a result of a federal court ruling. Revenue collections for the year were $178 million (-0.5 percent) short of the IFO’s official revenue estimate. Excluding the JUA

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MRU-2020-12.pdf

For December, revenue collections were $3.68 billion, which were $774.4 million (26.6 percent) above the monthly projections associated with the Independent s (IFO) June 2020 Official Estimate. The overage was primarily due to stronger than expected corporate net income tax (CNIT) collections and one-time transfers under Act 114 of 2020 (not included in the IFO’s Official Estimate). Monthly CNIT collections

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MRU-2020-08.pdf

for fiscal year (FY) 2020-21 based on its official estimate released June 22. Compared to those estimates, General Fund collections of $2,548.4 million in August were $247.7 million (10.8 percent) higher than anticipated. The overage was largely attributable to sales and use tax (SUT) and personal income tax (PIT). Fiscal year-to-date (FYTD) collections exceed estimate by $392.3 million (6.3 percent). Monthly SUT revenues were $150.8 million (17.1 percent) above

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MRU-2020-05.pdf

May revenue collections of $2.11 billion fell below monthly projections released by the Independent Fiscal Office (IFO) in August 2019 by $502 the virus was partially offset by a $10 million overage in various revenue sources. May fiscal-year-to-date (FYTD) collections are $2.70 billion (-8.4 percent) below estimate. Monthly sales and use tax (SUT) collections were below estimate by

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Revenue_Proposal_Analysis_2021_04.pdf

could be subject to lengthy litigation. Despite this uncertainty, tax administrators and most academics believe that combined reporting increases tax collections in high-rate states because it eliminates some methods that can be used to shift profits to low- or no- combined reporting could increase revenues by roughly 9% to 13%. As an update to that analysis, the IFO reviewed CNIT collections and GDP data for three large states (Massachusetts, New York and Wisconsin) that implemented combined reporting since 2006 to determine

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Revenue-Estimate-Performance-2020-09.pdf

June 2020. That time period covers eight complete budget cycles. For each fiscal year, this document compares actual collections to the IFO’s revenue estimates made at three specific times during the fiscal year, as required by the statute that created 20 was released on January 28, 2020. The update is based on a revised economic forecast and revenue collections for the first half of the fiscal year.  May Update This revenue estimate occurs in May of the same fiscal year

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REU-2020-01.pdf

On August 8th, the Independent Fiscal Office (IFO) released monthly revenue projections for fiscal year (FY) 2019-20. General Fund collections for January fell below estimate by $18.4 million (-0.6 percent). Fiscal- year-to-date (FYTD) collections are exceeding estimate by $195.4 million (1.1 percent). The monthly shortfall was a result of lower than anticipated

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QRR_2017Q2.pdf

Year 2016-17 The IFO produces this report to facilitate comparison of its quarterly revenue estimates with actual reve- nue collections. The report also provides context for the variances between estimates and actual collec- tions. For more detail on revenue growth rates by month and fiscal year, see the IFO’s Monthly Trends Reports

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QRR_2017Q1.pdf

Year 2016-17 The IFO produces this report to facilitate comparison of its quarterly revenue estimates with actual reve‐ nue collections. The report also provides context for the variances between estimates and actual collec‐ tions. For more detail on revenue growth rates by month and fiscal year, see the IFO’s Monthly Trends Reports

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QRR_2013Q4.pdf

Introduction The Independent Fiscal Office (IFO) produces this report to facilitate comparison of its quarterly revenue estimates with actual revenue collections. The report also provides context and analysis regarding any variances between the estimates and actual collections. The revenue estimates in this report are taken from Fiscal Year 2013-14 Quarterly Revenue Estimates published by the IFO

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MTR-2019-09.pdf

The monthly outcome was due to stronger than expected corporate net income tax (CNIT), personal income tax (PIT) and escheat collections. September CNIT revenues outperformed the forecast by $40.1 million due to overages in both final and estimated payments. CNIT collections are also exceeding the FTYD forecast ($45.1 million) as both final and estimated payments are outperforming projections, up $26

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MRU_2021_08.pdf

the Independent Fiscal Office (IFO) released its monthly revenue projections for fiscal year (FY) 2021-22. For August, General Fund collections were $2.57 billion, or $71.5 million (2.9%) over estimate. The monthly overage was almost entirely due to corporate net income tax (CNIT) and sales and use tax (SUT) collections. Fiscal-year-to-date (FYTD) General Fund collections are $5.27 billion, which are $163.1 million (3.2%) above

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MRU_2021_01.pdf

For January, General Fund revenue collections were $2.66 billion, which were $245.8 million (-8.5 percent) below the monthly projections associated with the revised in January 2021. The monthly shortfall was the largely the result of a temporary shift in personal income tax (PIT) collections. Fiscal-year-to-date (FYTD) collections are $21.2 billion, $242.1 million (-1.1 percent) lower than expected. Total

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MRU-2020-09.pdf

September revenue collections of $3.26 billion were $347.3 million (11.9 percent) higher than the monthly projection associated with the Independent sales and use tax (SUT), corporate net income tax (CNIT) and personal income tax (PIT). Fiscal year-to-date (FYTD) collections exceed estimate by $739.6 million (8.1 percent). Monthly SUT revenues were $132.9 million (15.4 percent) above

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MRU-2020-04.pdf

Revenue collections of $2.18 billion in April were below monthly projections released by the Independent Fiscal Office (IFO) in August 2019 shift to fiscal year (FY) 2020-21 as a result of extended tax due dates. Fiscal-year-to-date (FYTD) collections are $2.19 billion (-7.4 percent) below estimate through April and are 5.7 percent below collections for the

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MQRE-FY19-20-Aug.pdf

Economic Development (DCED) has approved all documentation. Therefore, these provisions are not projected to reduce FY 2019-20 collections. Personal Income Tax Conformity with Federal Opportunity Zones (Act 13) The act provides that “net gains”, “net losses” and “dividends” for purposes Quarterly Estimates | Page 5 Farm Show Complex Debt Service (Act 20) The act requires the transfer of PIT collections in an amount necessary for the Department of General Services to make annual debt service payments related to the lease of the

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Revenue-Proposal-Analysis-2018-04.pdf

the NYMEX. The analysis utilizes production estimates from Bentek Energy that were adjusted by the IFO. Projected tax collections equal the product of the assumed tax rate and unconventional natural gas production. The price forecast assumes that (1) the average annual prices. 8 Revenue Impact Table 1.4 displays the assumed tax rate, projected taxable production and estimated revenue collections for the proposed severance tax from FY 2018-19 to FY 2022-23. For FY 2018-19, the analysis projects $210 million

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Revenue-Estimate-Performance-2019-07.pdf

May 2018. That time period covers seven complete budget cycles. For each fiscal year, this document compares actual collections to the IFO’s revenue estimates made at three specific times during the fiscal year, as required by the statute that created 19 was released on January 29, 2019. The update is based on a revised economic forecast and revenue collections for the first half of the fiscal year.  May Update This revenue estimate occurs in May of the same fiscal year

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REU-2019-12.pdf

On August 8th, the Independent Fiscal Office (IFO) released monthly revenue projections for fiscal year (FY) 2019-20. General Fund collections were $58.5 million (-2.0 percent) below estimate for December and $213.9 million (1.4 percent) above estimate shortfall was a result of lower than anticipated corporate net income tax (CNIT) and personal income tax (PIT) revenues. CNIT collections were $526.5 million for the month, which was 3.6 percent below estimate. The monthly result was due to

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QRR_2015Q3.pdf

us. The Independent Fiscal Office (IFO) produces this report to facilitate comparison of its quarterly revenue estimates with actual revenue collections. The report also provides context for the variances between estimates and actual collections. General Fund Overview General Fund revenues for the third quarter of 2015 were $74 million above estimate. 1 Table 1

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QRR_2014Q2.pdf

Introduction The Independent Fiscal Office (IFO) produces this report to facilitate comparison of its quarterly revenue estimates with actual revenue collections. The report also provides context for the variances between estimates and actual collections. The revenue estimates in this report are taken from Fiscal Year 2013-14 Quarterly Revenue Estimates published by the IFO

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PBB_2020_DEP_Report.pdf

kept pace with or exceeded other comparable states and major metro areas over the last 15 years. Data collected at outdoor air quality monitors across most Pennsylvania counties show that the proportion of days with good air quality by EPA standards waters can accommodate wildlife, recreation and the supply of drinking water. This activity is partially funded by fees collected for National Pollutant Discharge Elimination System and Water Quality Management permitting programs. Resources 14-15 Actual 15-16 Actual 16-17 Actual

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MRU_2021_03.pdf

General Fund revenue collections for March were $4.84 billion, $284.2 million (6.2 percent) above the monthly projections associated with the Independent was largely the result of higher than expected personal income tax (PIT), corporate net income tax (CNIT) and inheritance tax collections. Fiscal-year-to-date (FYTD) General Fund collections of $28.71 billion are $551.7 million (2.0 percent) above

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SUT Exemption for Aircraft - January 2013.pdf

generally exempt as sales for resale. The retailer or seller of the aircraft, aircraft parts or MRO service collects the SUT due on the transaction and remits tax to the Department of Revenue (DOR), provided that the seller is licensed to collect SUT in Pennsylvania. If the purchase is taxable for Pennsylvania purposes and the tax is not collected as part of the transaction

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Revenue-Estimate-Performance-2018-07.pdf

May 2018. That time period covers six complete budget cycles. For each fiscal year, this document compares actual collections to the IFO’s revenue estimates made at three specific times during the fiscal year, as required by the statute that created 18 was released on January 29, 2018. The update is based on a revised economic forecast and revenue collections for the first half of the fiscal year. • May Update This revenue estimate occurs during the first week in May of the

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QRR_2016Q3.pdf

state.pa.us. The IFO produces this report to facilitate comparison of its quarterly revenue estimates with actual reve- nue collections. The report also provides context for the variances between estimates and actual collec- tions (page 3). For more detail on revenue growth rates by month and fiscal year, see the IFO’s Monthly

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QRR_2016Q1.pdf

us. The Independent Fiscal Office (IFO) produces this report to facilitate comparison of its quarterly revenue estimates with actual revenue collections. The report also provides context for the variances between estimates and actual collections. General Fund Overview General Fund revenues for the first quarter of 2016 were $195 million above estimate. 1 Table 1

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QRR_2013Q3.pdf

Introduction The Independent Fiscal Office (IFO) produces this report to facilitate comparison of its quarterly revenue estimates with actual revenue collections. The report also provides context and analysis regarding any variances between the estimates and actual collections. The revenue estimates in this report are taken from Fiscal Year 2013-14 Quarterly Revenue Estimates published by the IFO

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MRU_2021_05.pdf

General Fund revenue collections were $3.95 billion in May, $1.33 billion (50.8%) higher than the monthly projections associated with the Independent The monthly overage was primarily due to personal income tax (PIT) annual payments. Fiscal-year-to- date (FYTD) General Fund collections are $36.62 billion, which are $1.60 billion (4.6%) above estimate. May PIT collections were $1.01 billion

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MRU-2021-06.pdf

June General Fund revenue collections were $3.77 billion, $350.7 million (10.3%) more than the monthly projections associated with the Independent Fiscal Office due to corporate net income tax (CNIT) and sales and use tax (SUT) revenues. Fiscal year 2020-21 General Fund collections were $40.39 billion, $1.95 billion (5.1%) higher than forecasted. June CNIT revenues totaled $711.5 million which

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MRU-2020-07.pdf

the Independent Fiscal Office (IFO) will release monthly revenue projections for fiscal year (FY) 2020 -21. For July, General Fund collections were $4.10 billion and $1.77 billion (76.2 percent) above collections for July 2019. Roughly $1.62 billion of the increase was associated with extended tax due dates related to the

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Economic_and_Revenue_Update_2020_10.pdf

its official FY 2020-21 General Fund revenue estimate of $35.87 billion. 6 Based on actual revenue collections through October 2020 and the current economic outlook, the IFO’s updated revenue estimate for FY 2020-21 is $36.52 billion s official estimate. (See Table 2.1.) This revision is largely driven by sales and use tax (SUT) collections, which have sub- stantially outperformed expectations (+$580 million) for the first four months of the fiscal year. The text that follows provides

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REU-2020-02.pdf

1.4 percent) for the fiscal-year- to-date (FYTD). The monthly outcome was a result of stronger than expected collections in corporate net income tax (CNIT), gross receipts tax (GRT) and personal income tax (PIT). The $36.1 million February GRT surplus was largely due to firms making early payments for the March due date. CNIT collections were $83.7 million for February, which was $12.9 million (18.2 percent) above estimate. The monthly performance was

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QRR_2016Q4.pdf

Year 2016-17 The IFO produces this report to facilitate comparison of its quarterly revenue estimates with actual reve- nue collections. The report also provides context for the variances between estimates and actual collec- tions (page 3). For more detail on revenue growth rates by month and fiscal year, see the IFO’s Monthly

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PBB_2020_DHS_REPORT_Final_Updated.pdf

authorize benefits 11 Employment Supports……………………………………….Support services for individuals to gain employment 12 Child Support Enforcement……………………………….Enforce and collect child support 13 LIHEAP Eligibility and Benefits……………………………..Determine LIHEAP eligibility and issue benefits 14 Other Program Eligibility and Benefits………………..Determine other program months after leaving TANF for employment. The department is currently taking steps to coordinate with L&I to collect this information. Pennsylvania’s child support enforcement program is one of the most effective in the nation and DHS collects many relevant

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Official-Revenue-Estimate-2018-06.pdf

rate has been adjusted to account for one extra deposit day. Computations exclude transfers to the Enhanced Revenue Collections Account (ERCA). 3 The SUT non-motor growth rate excludes recent tax law changes and transfers to ERCA. AAGR 1 Official Revenue 2.3 billion, for an updated FY 2017-18 official estimate of $34.7 billion. Based on revenue collections through mid-June and projections for the remainder of the fiscal year, this revised estimate reduces revenues by $226 million from the

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MTR-2019-07.pdf

the Independent Fiscal Office (IFO) will release monthly revenue projections for fiscal year (FY) 2019-20. For July, General Fund collections were $2,329.2 million and were $90.8 million (4.1 percent) higher than July 2018. The tax revenue inheritance tax. Sales and use tax (SUT) and realty transfer tax declined due to new or expanded transfers. July CNIT collections were $93.1 million, an increase of $18.4 million (24.6 percent) from the prior year. The entire gain

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Impact-Fee-Estimate-2019.pdf

fee in any operating year. This research brief uses recent data published by the Department of Environmental Protection to estimate collections for calendar year (CY) 2019, which will be remitted in April 2020. This brief also translates the impact fee into the implicit tax burden imposed by the impact fee in a given year. Table 1 displays the estimated CY 2019 collections with actual collections and distributions for the prior three years. Introduction Table 1: Impact Fee Revenue and Distributions 2016 2017

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Revenue_Estimate_Performance_Dec_2017.pdf

June 2017. That time period covers five complete budget cycles. For each fiscal year, this document compares actual collections to the IFO’s revenue estimates made at three specific times during the fiscal year, as required by the statute that created 17 was released on January 25, 2017. The update is based on a revised economic forecast and revenue collections for the first half of the fiscal year. • May Update This revenue estimate occurs during the first week in May of the

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Revenue-Proposal-Analysis-2020-04.pdf

subject of lengthy litigation. Despite this uncertainty, tax administrators and most academics believe that combined reporting increases tax collections in high tax rate states because it eliminates various methods that can be used to shift profits to low or no tax control states that did not enact combined reporting. As an update to that analysis, the IFO reviewed CNIT collections and gross domestic product (GDP) data for three large states (Massachusetts, New York and Wisconsin) that implemented combined reporting since 2006 to

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Revenue Trends Report - November 2012.pdf

Independent Fiscal Office  Commonwealth of Pennsylvania  www.ifo.state.pa.us The Commonwealth collected $1.68 billion in General Fund revenues for November, a decrease of 2.3% compared to collections for November 2011 (details on the next page). In the first five months of the fiscal year, revenues increased by

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PBB_2021_PennDOT_REPORT.pdf

Measures for Local System Construction and Maintenance 1 Dollar millions. 3 LFT stands for Liquid Fuels Tax. 6 Currently, PennDOT collects this fee on behalf of 24 counties. --Recommended Measure-- --Recommended Measure-- --Recommended Measure-- --Recommended Measure-- --Recommended Measure-- 5 Includes funds 10,500 per mile. Activity 3: Local System Construction and Maintenance | Page 22 Act 89 of 2013 allows counties to collect a $5 fee for every vehicle registered in the county, effective January 1, 2015. The fee is based on the

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NGIFE-2015.pdf

June 2015, the Independent Fiscal Of Ðice (IFO) issued Research Brief 2015‐3, which reported unconventional gas well impact fee collections for calendar year (CY) 2014 along with three potential scenarios for CY 2015 collections (to be remitted in April 2016). This research brief uses recent data published by the Department of Environmental Protection to

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MTR-2018-04.pdf

173 million, or 0.6 percent, above the IFO’s updated official estimate. For the month of April, General Fund collections were $325 million (-8.0 percent) below estimate. Overall sales and use tax revenues exceeded estimate by $9 million. Collections from motor vehicle ($6 million) and non-motor vehicle ($3 million) sales were slightly over estimate. Corporate net income tax

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Initial-Revenue-Estimate-2018-05.pdf

rate has been adjusted to account for one extra deposit day. Computations exclude transfers to the Enhanced Revenue Collections Account (ERCA). 3 The SUT non-motor growth rate excludes recent tax law changes and transfers to ERCA. AAGR 1 Initial Revenue 2.3 billion, for an updated FY 2017-18 official estimate of $34.7 billion. Based on revenue collections through April and projections for the remainder of the fiscal year, this revised estimate reduces revenues by $244 million from the IFO

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Budget_Hearing_Background_Feb2016.pdf

June 2015, the Independent Fiscal Of Ðice (IFO) issued Research Brief 2015‐3, which reported unconventional gas well impact fee collections for calendar year (CY) 2014 along with three potential scenarios for CY 2015 collections (to be remitted in April 2016). This research brief uses recent data published by the Department of Environmental Protection to

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Revenue Conference Presentation Jan 2013 FINAL.pdf

of economic activity. o Federal, state and local budgets are constrained. o Weak overseas demand.  Sales and Use Tax collections have been very weak. o July to December growth = 2.1%.  Will it continue? o Higher federal taxes reduce income. The full‐year impact is projected to reduce disposable income by $7.7 billion for tax year 2013.  Collection of SUT on internet sales continues to be an issue. Collections on internet sales estimated at $40 million for FY

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RB-2019-01.pdf

in the previous calendar year. This research brief uses recent data published by the Department of Environmental Protection to estimate collections for calendar year (CY) 2018, which will be remitted in April 2019. 1 This brief also translates the impact fee of the impact fee for CY 2018 is $247.0 million, which represents a $37.4 million increase from actual collections in the prior year. The primary reasons for the increase are as follows:  New wells offset aging wells. The

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QRR_2015Q4.pdf

us. The Independent Fiscal Office (IFO) produces this report to facilitate comparison of its quarterly revenue estimates with actual revenue collections. The report also provides context for the variances between estimates and actual collections. General Fund Overview General Fund revenues for the fourth quarter of 2015 were $94 million above estimate. 1 Table 1

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NGIFE-2016.pdf

in the previous calendar year. This research brief uses recent data published by the Department of Environmental Protection to estimate collections for calendar year (CY) 2016, which will be remitted in April 2017. 1 This brief also translates the impact fee of the impact fee for CY 2016 is $174.6 million, which is $13.1 million less than the amount collected for the prior year. Table 2 on the next page details the well count, fee schedule and estimated collections by

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MTR-2018-1.pdf

updated official estimate. Most of the year-to-date overage occurred in the current month. January 2018 total General Fund collections exceeded estimate by $366 million, due largely to the receipt of $200 million from the lease of the Pennsylvania Farm This transfer was included in the IFO’s official estimate, but was not anticipated until April/May. Additionally, the Commonwealth collected $90 million ($75 million more than projected) from the auction of newly authorized mini-casino licenses. As a result, total

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MTR-2018-05.pdf

revenue estimate (originally published in June 2017) and corresponding revised monthly projections. 1 For the month of May, General Fund collections were $197 million (-7.4 percent) below estimate but are roughly meeting estimate for the fiscal year. Overall sales and use tax revenues exceeded estimate by $50 million. Collections from motor vehicle and non-motor vehicle sales tax were over estimate by $10 million and $39 million, respectively. Personal

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MTR-2018-03.pdf

498 million, or 2.0 percent, above the IFO’s updated official estimate. For the month of March, General Fund collections were $121 million (-2.7 percent) below estimate. Overall sales and use tax revenues exceeded estimate by $17 million, with a small shortfall in motor vehicle receipts (-$6 million) more than offset by an overage in non-motor collections ($22 million). Corporate net income tax payments were below estimate by $80 million (-15.8 percent). The shortfall was entirely

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MTR-2018-02.pdf

General Fund revenues are $619 million, or 3.0 percent, above the IFO’s updated official estimate. February General Fund collections were $158 million (4.6 percent) above estimate. The three largest sources of tax revenue (personal income tax, sales and of payments into December and January in response to federal tax law changes. Non-motor sales and use tax (SUT) collections were strong in February after a flat January. Non-motor collections were $26 million above estimate (4.2 percent) in

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IFO_Hearing_Packet_Feb2018.pdf

about the IFO’s budget, past hearings have included wide-ranging discussions regarding Pennsylvania’s economic outlook, labor market, revenue collections, demographics, long-term fiscal outlook and energy industry trends. The office has compiled some of the most frequently requested data tax credit reviews. Other functions of the IFO include the preparation of monthly reports on the state economy and revenue collections, periodic revenue estimates, coordinating analyses and issuing actuarial notes for legislation proposing changes to public employee pension or retirement plans

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Five_Year_Outlook_2019.pdf

FY 2024-25. 6 Act 43 of 2017 requires online retailers that sell to Pennsylvania residents to either collect and remit sales tax or comply with notice and reporting requirements. Sales and Use Tax Bulletin 2019-01 lowered the threshold for collecting tax under the Department of Revenue’s application of the U.S. Supreme Court’s decision in South Dakota v. Wayfair, Inc

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2013 Appropriation Hearings Background Information.pdf

8% * 1.5% growth rate for “all other” if the capital stock and franchise tax is excluded. Comparison of Actual Collections to Estimate ($ millions) Fiscal Year-to-Date Through December Revenue Source Actual Estimate Difference Total General Fund $12,228 $12 Using reasonable assumptions, a reduction of that magnitude could have an $85 million annual impact on sales and use tax collections once it is fully phased in. American Taxpayer Relief Act of 2012 (Jan. 2, 2013): • Increases income tax rate from

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WJ-Presentation-Natural-Gas-7-14-20.pdf

60%) and the Marcellus Legacy Fund (40%).  Disbursement to counties/municipalities can be used for various purposes. Impact Fee Collections History July 14, 2020 3 2014 2015 2016 2017 2018 2019 2020 Total Collections $223.5 $187.7 $173.3 $209.6 $251.8 $200.4 $146.9 County/State Conservation 7.5 7

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Revenue Trends Report - July 2012.pdf

Pennsylvania Independent Fiscal Office  www.ifo.state.pa.us The Commonwealth collected $1.84 billion in General Fund revenues in July, an increase of 7.2% over the amount collected in July 2011. For the most recent three month period, collections declined by 2.9% compared to the same period

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Revenue Trends Report - August 2012.pdf

Pennsylvania Independent Fiscal Office  www.ifo.state.pa.us The Commonwealth collected $1.8 billion in General Fund revenues in August, a decline of 0.6% compared to collections for August 2011 (details on the next page). In the first two months of the fiscal year, revenues increased by

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Response_Letter_2021_April.pdf

are imposed at the point of sale and only apply to purchases originating in those counties. Local tax is not collected on sales shipped into those counties by out-of-state (or out-of-county) sellers. Imposing the tax with the same local situs could materially reduce collections (10% to 15%). The projections included in the enclosed table assume the new SUT (including that imposed on food and

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Response-Letter-9-30-2019.pdf

are imposed at the point of sale and only apply to purchases originating in those counties. Local tax is not collected on sales shipped into those counties by out of state (or out of county) sellers. Imposing the tax with the same local situs could materially reduce collections (5-10 percent). The projections included in the enclosed table assume the new SUT (including that imposed on food and

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QRR_2017Q3.pdf

www.ifo.state.pa.us. The IFO produces this report to facilitate comparison of its revenue estimates with actual revenue collec- tions. The report also provides context for the vari- ances between estimates and actual collections. For more detail on revenue growth rates by month and fiscal year, see the IFO’s Monthly Trends Reports at

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PBB_2020_PEMA_REPORT.pdf

Management Agency Overview | Page 6 As the Next Generation 911 (NG911) system is implemented in Pennsylvania, PEMA should collect measures to demonstrate efficiency improvements in 911 systems. Currently, PEMA is unable to track the number of calls incorrectly routed to the Points, often referred to as the 911 call centers). The current legacy 911 system is outdated and data collection methods vary across the Commonwealth. PEMA, in conjunction with the counties, is in the process of implementing a new NG911 system that

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IFO - Economic and Budget Outlook - January 2012.pdf

or whether a particular series simply reverts to some historical norm. For example, it is known that personal income tax collections have increased since the previous recession. But merely knowing the level of collections does not provide a useful benchmark against which one may assess whether collections have reverted to a “normal” level, nor

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2020_Impact_Fee_Estimate.pdf

the fee in any operating year. This report uses recent data published by the Department of Environmental Protection to estimate collections for calendar year (CY) 2020, which will be remitted in April 2021. It also converts the impact fee into an estimate for the CY 2020 impact fee is $144.9 million, which represents a $55.9 million decrease from base collections in the prior year. The primary reasons for the decrease in collections are as follows:  Lower Fee Schedule. The

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Single-Use Plastics Report-2020_06.pdf

local or state government is more likely to retain fees. Some jurisdictions also require sales tax to be collected on the bag fee. Fee Amount: The fee amount varies across state and local governments. Most jurisdictions set amounts in 5-cent In addition to statewide bag consumption, the survey asked about consumer attitudes towards a retail bag fee and collected demographic data such as household size, income level and county of residence. LWPB Demand When combined with other research, the statewide survey

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RB-2017-5.pdf

well as a computed effective tax rate. The computed effective tax rate is equal to the ratio of sales tax collections (FY 2015-16) to state personal income (CY 2015) and reflects the relative breadth of the tax base. The differential 00% 1.95% Missouri 4.23% 1.39% Note: 1 Effective tax rate equal to the ratio of sales tax collections (FY 2015-16) to state personal income (CY 2015). The effective tax rate reflects the relative breadth of the tax

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PBB_2021_DHS_REPORT.pdf

and mental health programs. The current case management system for child welfare results in substantial additional work and delays to collect data for counties and the department. The replacement system is currently in phase one of the development lifecycle. The Child YFCs. In order to track and evaluate longer-term outcomes, the IFO recommends that DHS work with JCJC to annually collect and report recidivism data for youth served at these facilities. The Pennsylvania Department of Education pro- vides educational programs for

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PBB_2020_DCED_REPORT.pdf

FY 18-19. 2 Data available 2013 to 2017. Property tax data reflects municipal and county property tax collections, no school district collections included. Note: County order based on the sum of awards received. See Appendix for regional map. Awards FY 14-15 to FY

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PBB_2019_JCJC_Report.pdf

from agencies in an efficient manner. Therefore, many of the recommendations in the plans address the need for collection of new data to facilitate the computation of more complete and meaningful outcome metrics. For policy- makers, these first-round plans are ad- ministrative practices and judicial procedures in juvenile courts; establishing personnel practices and stand- ards in probation offices; collecting and publishing juvenile court statistics; and administering a grant pro- gram to improve county juvenile probation.  In 2017, the JCJC certified

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NGIFE-2018.pdf

in the previous calendar year. This research brief uses recent data published by the Department of Environmental Protection to estimate collections for calendar year (CY) 2017, which will be remitted in April 2018. 1 This brief also translates the impact fee of the impact fee for CY 2017 is $219.4 million, which is $46.1 million more than the amount collected for the prior year. Table 2 on the next page details the well count, fee schedule and estimated collections by

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MTR-2017-05.pdf

General Fund Snapshot The Commonwealth collected $2.58 bil- lion in General Fund revenues for May, an increase of $637 million (32.8%) com- pared to official projections. A primary factor that drives that result is weak sales tax revenues. Through April 2017, total sales tax collections increased by only 0.7 percent from the same period in the prior fiscal year. 1 For the latest three

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Economic_and_Revenue_Update_2021.pdf

to questions about the IFO’s budget, past hearings have included discussions regarding Pennsylvania’s economic outlook, labor market, revenue collections, demographics, long-term fiscal outlook and natural gas trends. This submission includes data, tables and graphs that have been requested 2021-22 budget proposal. Functions of the IFO include the preparation of monthly reports on the state economy and revenue collections, periodic revenue estimates, publication of performance-based budgeting and tax credit evaluation reports, coordinating analyses and issuing actuarial notes for

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Budget_Hearing_Background-Feb2014.pdf

estimates to actual revenues. • Mid-Year Update. Published in January. Revised revenue estimate for the current year based on actual collections for the first half of the fiscal year and expectations for the second half. Special Reports and Analyses (issued since 2,500 $3,500 $4,500 8 General Fund Revenues – Non-Motor Sales and Use Tax • Fiscal year-to-date collections through January grew by 2.0% over the same period last year. Collections are trending well below the levels the

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2012-09 Monthly Economic Summary 7.pdf

of data. 2 Sales-Use Taxes Year-over-year growth rate of sales taxes based on latest three months of collections. Excludes motor vehicle sales taxes. 3 Motor Vehicle Sales Taxes Year-over-year growth rate of motor vehicle sales taxes based on latest three months of collections. 4 Realty Transfer Taxes Year-over-year growth rate of realty transfer taxes based on latest three months of collections

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SR2017-05.pdf

2011-2015 American Community Survey, U.S. Census Bureau. Calculations by the IFO. Revised 1/18/2018 County Property Tax Collections 1 Homestead Amount 2 Homestead Percentage 2 Number of Homesteads 3 Average Per Homestead Adams $92,309 $54,414 59% FY 2015-16 Estimates for Average Homestead School District Property Tax by County Revised 1/18/2018 County Property Tax Collections 1 Homestead Amount 2 Homestead Percentage 2 Number of Homesteads 3 Average Per Homestead Table 3 FY 2015-16 Estimates

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Revenue Trends Report - September 2012.pdf

Pennsylvania Independent Fiscal Office  www.ifo.state.pa.us The Commonwealth collected $2.43 billion in General Fund revenues in September, an increase of 4.6% compared to collections for September 2011 (details on the next page). In the first three months of the fiscal year, revenues increased by

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Revenue Trends Report - May 2013.pdf

Independent Fiscal Office  Commonwealth of Pennsylvania  www.ifo.state.pa.us The Commonwealth collected $2.03 billion in General Fund revenues for May, an increase of 7.1% from the prior year. For the fiscal year-to-date, revenues increased by 4.3% to $25.96 billion. General Fund collections increased by 4.2% and 2.2% over the most recent three and twelve-month periods, respectively. Additional detail can

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Revenue Trends Report - December 2012.pdf

Independent Fiscal Office  Commonwealth of Pennsylvania  www.ifo.state.pa.us The Commonwealth collected $2.44 billion in General Fund revenues for December, an increase of 7.5% compared to collections for December 2011 (details on the next page). For the fiscal year-to-date, revenues increased by 5.0% to

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QRR_2015Q3_preliminary.pdf

net income tax revenues were $27 million below estimate due to lower-than- expected estimated payments. • Non-motor sales tax collections were $20 million below estimate. After a strong July, this revenue source displayed only modest growth in August and September. • Personal income tax withholding collections, which were higher than normal due to an extra weekly due date this quarter, met estimate. • Personal income tax quarterly

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QRE_FY14-15.pdf

2014-15 projections throughout the fiscal year. The Independent Fiscal Office will prepare quarterly reports to compare actual collections to these quarterly estimates. Table 1 FY 2014-15 General Fund Revenue Projection ($ millions) Revenue Source June 16 Projection 1 Adjustments for miscellaneous non-tax revenues by $95 million in FY 2014-15. Page 8 Independent Fiscal Office Enhanced Revenue Collections Account (Act 126) Beginning with FY 2014-15, the Department of Revenue is appropriated up to $25 million annually from the Enhanced

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perez ppt.pdf

solid – Expenditures are stable – Budget gaps are few in FY 2012 Overview (continued) – States face ongoing budget challenges. – State tax collections remain below pre-recession levels – Officials are concerned about the strength of economic growth – Questions remain about the impact of reduction on state budgets – The total state budget gap: $527.7 billion (FY 2008- FY 2013 est.) FY 2012 Tax Collections (Compared with the Latest Estimate) Personal Income Tax* General Sales Tax Corporate Income Tax Above Estimate On Target Below Estimate

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MTR-2016-06.pdf

General Fund Snapshot The Commonwealth collected $3.06 billion in General Fund revenues for June, an increase of $145.2 million (5.0%) compared to June weakness in Pennsylvania. June sales and use tax revenues declined (-1.1%) year-over- year, while personal income tax (PIT) collections exhibited unexpected weakness for withholding (0.9%) and estimated payments (-11.4%). Positive signs from June include gains in corporate

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MTR-2016-02.pdf

General Fund Snapshot The Commonwealth collected $1.85 billion in General Fund revenues for February, an increase of $112.1 mil- lion (6.4%) compared to the manufacturing, wholesale and retail trade sectors. These three sectors comprised 45.4% of total corporate net income tax (CNIT) collections for FY 2014-15. National profit trends for the third quarter of 2015 may suggest strong profit gains for Pennsylvania

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MTR-2015-10.pdf

868 $8,764 $103 Growth 0.1% 2.6% -66.8% Dollar amounts are in millions. Tax Revenue The Commonwealth collected $2.13 billion in General Fund revenues for October, a decrease of $109.9 million (-4.9%) compared to October rate of sales tax revenues based on latest three months of data. Excludes transfers to or from the Enhanced Revenue Collection Account. Source: PA Dept. of Revenue. 6. A diffusion index that reflects consumer optimism. Source: UM—Survey of Consumers. 7

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TC_2021_Neighborhood_Assistance_Program.pdf

Program (EZP) generally make investments two to four times greater than required to generate the committed tax credit. ▪ Although DCED collects a significant amount of project performance data on the required Commu- nity Impact Measures Report, it is difficult to aggregate for TY 2020. *2-year carryback. **Annual cap is calculated each year as one percent of state corporate income tax collections from the prior fiscal year. 1 R is refundable and T is transferable. 2 Millions of dollars. Credit amount is

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State and Local Tax Burden Study.pdf

compiled by the U.S. Census Bureau. More specifically, most state data are from 2011 State Government Tax Collections, local data and liquor store profits are from 2010 State and Local Government Finances and state lottery revenues are from 2010 State use tax (SUT) and property tax to personal income. SUT includes taxes on general sales, gross receipts taxes collected by utilities and any sales tax levied by local units. For example, SUT levied in Pennsylvania includes the local sales tax levied

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RTR-2015-02.pdf

Independent Fiscal Office  Commonwealth of Pennsylvania  www.ifo.state.pa.us The Commonwealth collected $1.74 billion in General Fund revenues for February, an increase of $94 million (5.7%) compared to February 2014 739 million (4.5%). Additional detail can be found below and on the next page.  Sales and use tax collections increased by $30 million (4.8%) for the month and $285 million (4.7%) for the fiscal year-to-date

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RTR-2014-08.pdf

Commonwealth of Pennsylvania  www.ifo.state.pa.us For the second month of fiscal year 2014-15, the Commonwealth collected $1.8 billion in General Fund revenues, an increase of $32 million (1.8%) over August 2013. For the fiscal 3.2% and 0.3%, respectively.  Personal income tax revenues increased by $22 million compared to August 2013. Withholding collections increased by $21 million (3.3%) for the month, bringing the fiscal year-to-date growth rate to 3.7%

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RTR-2014-06.pdf

Independent Fiscal Office • Commonwealth of Pennsylvania • www.ifo.state.pa.us The Commonwealth collected $2.82 billion in General Fund revenues for June, an increase of $134 million (5.0%) compared to the prior the prior year. Corporate net income tax receipts increased by $78 million (3.2%), and capital stock and franchise tax collections dropped by $282 million (-46.9%). Sales and use tax revenue increased due to the $166 million (2.1%) growth

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Revenue Trends Report - October 2012.pdf

Independent Fiscal Office  Commonwealth of Pennsylvania  www.ifo.state.pa.us The Commonwealth collected $2.04 billion in General Fund revenues for October, an increase of 12.9% compared to collections for October 2011 (details on the next page). In the first four months of the fiscal year, revenues increased by

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Revenue Trends Report - January 2013.pdf

Independent Fiscal Office  Commonwealth of Pennsylvania  www.ifo.state.pa.us The Commonwealth collected $2.34 billion in General Fund revenues for January, an increase of 7.6% compared to the prior year. For the fiscal year-to-date, revenues increased by 5.4% to $14.56 billion. General Fund collections increased by 4.8% and 2.9% over the most recent three and twelve-month periods, respectively. Additional detail can

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Revenue Trends Report - February 2013.pdf

Independent Fiscal Office  Commonwealth of Pennsylvania  www.ifo.state.pa.us The Commonwealth collected $1.63 billion in General Fund revenues for February, a decline of 4.3% from the prior year. For the fiscal year-to-date, revenues increased by 4.3% to $16.19 billion. General Fund collections increased by 4.3% and 2.0% over the most recent three and twelve-month periods, respectively. Additional detail can

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Presentation-2019-3-1-EPLC.pdf

Wagering 0 75 28 All Other 2 8 10 Total $129 $201 $56 Note: Millions of dollars. Sales-Use Tax Collection on Internet Sales March 1, 2019 15 15-16 16-17 17-18 18-19 19-20 20-21 Non- Cox, IFO (December 2017). Reliance on Property Tax Varies March 1, 2019 22 District Group FY 2016-17 Current Year Collections Property Tax as % of Total Revenue Top 25% $7,268 63.6% Second 25% 2,844 47.0% Third 25%

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PBB_2019_DGS_Report.pdf

from agencies in an efficient manner. Therefore, many of the recommendations in the plans address the need for collection of new data to facilitate the computation of more complete and meaningful outcome metrics. For policy- makers, these first-round plans are communication and video, audio, photography and broadcast services.  Managing and maintaining the Commonwealth’s vehicle fleet.  Collection and sale of surplus state property and provision of purchasing opportunities for certain new and used federal equipment to local governments, law

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MTR-2017-11.pdf

fund transfer ($100.0 million), (2) a slots license fee ($50.0 million) and (3) a transfer from a delinquent collections holding account ($26.8 million). These amounts were anticipated to be remitted to the General Fund later in the fiscal percent) above estimate and non-tax revenues were $5.5 million (-6.8 percent) below estimate. Adjusted for temporary gains, collections from the three largest tax revenue sources, personal income tax (PIT), sales and use tax (SUT) and corporate net income

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MTR-2017-06.pdf

General Fund Snapshot The Commonwealth collected $3.3 billion in General Fund revenues for June, an in- crease of $203.8 million (6.7%) compared to rate of sales tax revenues based on latest three months of data. Excludes transfers to or from the Enhanced Revenue Collection Account. Source: PA Dept. of Revenue. 6. A diffusion index that reflects consumer optimism. Source: UM—Survey of Consumers. 7

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MTR-2017-04.pdf

General Fund Snapshot The Commonwealth collected $3.43 bil- lion in General Fund revenues for April, a decrease of $227.0 million (-6.2%) com- pared rate of sales tax revenues based on latest three months of data. Excludes transfers to or from the Enhanced Revenue Collection Account. Source: PA Dept. of Revenue. 6. A diffusion index that reflects consumer optimism. Source: UM—Survey of Consumers. 7

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MTR-2016-04.pdf

General Fund Snapshot The Commonwealth collected $3.66 billion in General Fund revenues for April, a decrease of $347.9 million (8.7%) compared to April typically a lag of one or two months’ time between buyer engagement, the actual closing of a sale, and the collection and remittance of tax. Revenues this fiscal year have been much stronger than last year, but the gains are moderating

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MTR-2016-03.pdf

General Fund Snapshot The Commonwealth collected $4.49 billion in General Fund revenues for March, an increase of $215.1 million (5.0%) compared to March General Fund revenues, the wages- salaries component of gross earnings is a crucial series since it motivates personal income tax collections and, to a large extent, sales and use tax remittances. The preliminary data from the BEA show a weakening trend

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Monthly_Economic_Update_February_2021.pdf

to Pennsylvanians in 2021, which suggests $1.5 billion will be used for personal consumption. Pandemic Boosts Pennsylvania Cigarette Tax Collections An article by the WSJ notes that the national trend of declining cigarette sales (-5.5% in 2019) has slowed during the pandemic. A review of cigarette tax collections from July 2020 to February 2021 reveals this trend also applies to Pennsylvania. The Commonwealth levies a $2.60 tax

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Monthly_Economic_Update_April_2021.pdf

compared to February 2020, the final month before casinos closed due to COVID- 19 mitigation efforts. Internet gaming and VGT collections both recorded the highest monthly collections to date. Internet gaming generated $97.7 million in revenue and surpassed February 2020 collections by $78.2 million (+401

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MER-2014-02.pdf

of data. 2 Sales‐Use Taxes Year‐over‐year growth rate of sales taxes based on latest three months of collections. Excludes motor vehicle sales taxes. 3 Motor Vehicle Sales Taxes Year‐over‐year growth rate of motor vehicle sales taxes based on latest three months of collections. 3 Realty Transfer Taxes Year‐over‐year growth rate of realty transfer taxes based on latest three months of collections

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IFO ppt.pdf

of the tax base as working age population declines and the number of seniors increases. • Short term – weaker than expected collections from employer withholding for the first half of the fiscal year. January 18, 2012 Independent Fiscal Office Economic & Budget Outlook of the tax base as consumption shifts to nontaxable goods and services. Increasing remote sales pose a challenge for revenue collection. • Short-term – collections for the first six months of the fiscal year have displayed moderate growth, with motor vehicle sales

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2006_surviving_spouse_healthcare_study.pdf

to determine the potential accounting impacts prior to bargaining. Since your first valuation can be performed based on census data collected up to 24 months prior to the effective date, many entities will soon be in a position to have calculations court finds that such fee should be reduced, waived ordeferred basedon the offender’spresent inabilitytopay. Of the fee collected, fifty percent (50%) shall be deposited into the County Offender Supervision Fund established in each county pursuant to this section and the

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SR2017-03.pdf

the state tax data by one fiscal year. For this analysis, state tax data are from 2015 State Government Tax Collections and 2015 State Government Finances, which represent fiscal year (FY) 2014-15. Local tax data are from 2014 State and sales and use tax (SUT) to personal income. Sales and use taxes include taxes on general sales, gross receipts taxes collected by utilities and any sales tax levied by local units. For Pennsylvania, SUT includes the local sales tax levied by

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RTR-2014-07.pdf

Commonwealth of Pennsylvania  www.ifo.state.pa.us For the first month of fiscal year 2014-15, the Commonwealth collected $2.2 billion in General Fund revenues, an increase of $323 million (16.8%) over July 2013. Non-tax collections include $227 million in one-time transfers from special funds. Absent these transfers, General Fund revenue increased by $97 million

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Revenue-Proposal-Analysis-2019-03.pdf

may be subject to significant litigation. Despite the uncer- tainty, combined reporting is generally assumed to increase tax collections in high rate states due to various methods that can be used to shift profits to low or no tax states. In increase revenues by roughly 9 to 13 percent. As an update to that analysis, the IFO reviewed CNIT collections and GDP data for the six states (“CR states”) that have implemented com- bined reporting since 2006 to determine the impact that

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Public_Data-Motor_License_Fund.xlsx

Act 89 OCFT- Liquid Fuels | Special Hauling Permits Reg. Other States-IRP Operators Licenses Real ID Vehicle Reg. & Titling Misc. Collections | Gross Receipts Aeronautics Fines Vehicle Code Fines Misc.-Treasury Misc.-Trans-portation Misc.-General Services Misc.-Revenue Veh. Code Fines Clearing PA Turnpike Commission Justice Collections 1997-98 1,812.7 1,022.4 703.1 87.3 | 591.9 140.3 -2.5 0.6

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PSBA Presentation - Final.pdf

1.2 1.3 1.4 1.5 1.6 1.7 1.8 1.9 Cumulative Growth in Tax Collections Personal Income Sales School Property CPI GDP Reliance on Property Tax Varies 1/19/2017 10 Group FY 14-15 Property Tax Collections Property Tax Percent of Total Revenue Top 25% $6,785 65.0% Second 25% $2,767 46.9% Third 25%

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Property-Tax-Update-August-2018.pdf

Department of Education. Table 2 Reliance on Property Tax by School Districts in FY 2016-17 Quartile Real Estate Tax Collections Property Tax Percent of Total Revenue 1 $7,268 63.6% 2 $2,844 47.0% 3 $1,596 30 1,344 16.9% ===== =========== Total $13,052 42.4% Note: dollar amounts in millions. Quartile is based on real estate collections as a share of total revenue. The first quartile consists of the 125 districts with the highest share of real

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Presentation_PASBO_Annual_Conference_3-8-2018.pdf

IFO uses survey results to inform its estimates of homestead property. Recent constitutional amendment may result in legislative proposals. Data collected from county assessment offices with help from the County Commissioners Association. Counties providing data comprised approximately 81% of real estate March 8, 2018 Homestead Survey Results Estimates based on survey (statewide averages):  54% of school district tax property tax collections are from homestead property. Varies significantly by district.  The percentage increases to 56% by including the Act 1 allocations

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PBB_2021_PSP_REPORT.pdf

Enforce state gaming and liquor laws Forensic Laboratory Services Provide forensic support to law enforcement agencies Records and Information Management Collect and disseminate accurate information Statewide Communications/Radio Network Provide reliable radio communication Officer Recruitment and Development Develop a distinguished and activity are as follows: ▪ Secure communities, schools, houses of worship, large public gatherings and infrastructure against foreign and domestic threats. ▪ Collect, analyze and share vital intelligence; and prepare and equip personnel to respond to poten- tial security threats to the Commonwealth

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PBB_2020_DOS_REPORT.pdf

the costs to purchase new voting systems. Further utilization of electronic submissions should generate department-wide efficiencies. Data collected by DOS reveal significant gains in most online submissions (e.g., corporate registrations, UCC filings and charity registrations). Electronic submission of registrations from electronic submission to confirm that all cost-saving opportunities have been realized. The department has started to collect and publish average processing times for each profes- sional license type on its website. 3 When tracked over time, these data can

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PBB_2020_DOH_REPORT_Final_Update.pdf

operational a facility must be compliant with all regulations. 8 FY 19-20 estimated by IFO based on collections through November 2019. DE MD NJ NY OH PA WV U.S. Premature Death Rate 1 White, non-Hispanic 7,570 6 Source: CMS, Nursing Home Compare data as reported by nursing home facilities, as of November 2019. Includes data collected during the three most recent state inspections or complaint investigations. Border State Nursing Home Comparisons Drug Surveillance and Misuse Prevention | Page 23

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MTR-2017-12.pdf

43, 44 and 55 of 2017 and (2) a recent Supreme Court decision on net operating loss deductions. 2 December collections were $67 million (2.4%) above estimate primarily due to stronger than anticipated collections in personal income tax (PIT) estimated payments ($80 million above estimate, 49.4%) and sales and use tax (SUT) - non-

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MTR-2017-07.pdf

rate of sales tax revenues based on latest three months of data. Excludes transfers to or from the Enhanced Revenue Collection Account. Source: PA Dept. of Revenue. 6. A diffusion index that reflects consumer optimism. Source: UM—Survey of Consumers. 7 Motor Realty Transfer Tax Personal Income Tax — Withholding Technical Notes  Transfers from the General Fund to the Enhanced Revenue Collection Account were $23.1 million including: $6.3 million from personal income tax; $6.7 million from sales and use

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MTR-2017-03.pdf

General Fund Snapshot The Commonwealth collected $4.42 bil- lion in General Fund revenues for March, a decrease of $64.5 million (-1.4%) com- pared rate of sales tax revenues based on latest three months of data. Excludes transfers to or from the Enhanced Revenue Collection Account. Source: PA Dept. of Revenue. 6. A diffusion index that reflects consumer optimism. Source: UM—Survey of Consumers. 7

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MTR-2017-02.pdf

General Fund Snapshot The Commonwealth collected $1.88 bil- lion in General Fund revenues for Febru- ary, an increase of $20.6 million (1.1%) compared rate of sales tax revenues based on latest three months of data. Excludes transfers to or from the Enhanced Revenue Collection Account. Source: PA Dept. of Revenue. 6. A diffusion index that reflects consumer optimism. Source: UM—Survey of Consumers. 7

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MTR-2017-01.pdf

General Fund Snapshot The Commonwealth collected $2.64 bil- lion in General Fund revenues for January, an increase of $143.6 million (5.7%) com- pared rate of sales tax revenues based on latest three months of data. Excludes transfers to or from the Enhanced Revenue Collection Account. Source: PA Dept. of Revenue. 6. A diffusion index that reflects consumer optimism. Source: UM—Survey of Consumers. 7

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MTR-2016-12.pdf

General Fund Snapshot The Commonwealth collected $2.62 bil- lion in General Fund revenues for Decem- ber, a decrease of $106.6 million (-3.9%) compared rate of sales tax revenues based on latest three months of data. Excludes transfers to or from the Enhanced Revenue Collection Account. Source: PA Dept. of Revenue. 6. A diffusion index that reflects consumer optimism. Source: UM—Survey of Consumers. 7

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MTR-2016-11.pdf

General Fund Snapshot The Commonwealth collected $1.99 bil- lion in General Fund revenues for Novem- ber, an increase of $179.2 million (9.9%) compared rate of sales tax revenues based on latest three months of data. Excludes transfers to or from the Enhanced Revenue Collection Account. Source: PA Dept. of Revenue. 6. A diffusion index that reflects consumer optimism. Source: UM—Survey of Consumers. 7

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MTR-2016-10.pdf

General Fund Snapshot The Commonwealth collected $2.23 billion in General Fund revenues for October, an increase of $102.9 million (4.8%) compared to October rate of sales tax revenues based on latest three months of data. Excludes transfers to or from the Enhanced Revenue Collection Account. Source: PA Dept. of Revenue. 6. A diffusion index that reflects consumer optimism. Source: UM—Survey of Consumers. 7

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MTR-2016-09.pdf

GENERAL FUND SNAPSHOT The Commonwealth collected $2.63 billion in General Fund revenues for September, a decrease of $106.5 million (-3.9%) compared to September rate of sales tax revenues based on latest three months of data. Excludes transfers to or from the Enhanced Revenue Collection Account. Source: PA Dept. of Revenue. 6. A diffusion index that reflects consumer optimism. Source: UM—Survey of Consumers. 7

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MTR-2016-08.pdf

General Fund Snapshot The Commonwealth collected $2.02 billion in General Fund revenues for Au- gust, an increase of $147.7 million (7.9%) compared to rate of sales tax revenues based on latest three months of data. Excludes transfers to or from the Enhanced Revenue Collection Account. Source: PA Dept. of Revenue. 6. A diffusion index that reflects consumer optimism. Source: UM—Survey of Consumers. 7

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MTR-2016-05.pdf

General Fund Snapshot The Commonwealth collected $1.94 billion in General Fund revenues for May, a decrease of $17.3 million (-0.9%) compared to May rate of sales tax revenues based on latest three months of data. Excludes transfers to or from the Enhanced Revenue Collection Account. Source: PA Dept. of Revenue. 6. A diffusion index that reflects consumer optimism. Source: UM—Survey of Consumers. 7

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MTR-2015-11.pdf

FYTD $10,676 $10,561 $115 Growth 0.8% 2.8% -63.4% Dollar amounts are in millions. The Commonwealth collected $1.81 billion in General Fund revenues for November, an increase of $75.0 million (4.3%) compared to November rate of sales tax revenues based on latest three months of data. Excludes transfers to or from the Enhanced Revenue Collection Account. Source: PA Dept. of Revenue. 6. A diffusion index that reflects consumer optimism. Source: UM—Survey of Consumers. 7

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MTR-2015-09.pdf

736 $6,655 $80 Growth 1.8% 5.1% -71.2% Dollar amounts are in millions. Tax Revenue The Commonwealth collected $2.73 billion in General Fund revenues for September, an increase of $156.2 million (6.1%) compared to September rate of sales tax revenues based on latest three months of data. Excludes transfers to or from the Enhanced Revenue Collection Account. Source: PA Dept. of Revenue. 6. A diffusion index that reflects consumer optimism. Source: UM—Survey of Consumers. 7

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MTR-2015-08.pdf

003 $3,945 $57 Growth -0.9% 4.6% -78.5% Dollar amounts are in millions. Tax Revenue The Commonwealth collected $1.87 billion in General Fund revenues for August, an increase of $76.4 million (4.3%) compared to August rate of sales tax revenues based on latest three months of data. Excludes transfers to or from the Enhanced Revenue Collection Account. Source: PA Dept. of Revenue. 6. A diffusion index that reflects consumer optimism. Source: UM—Survey of Consumers. 7

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MTR-2015-07.pdf

2,135 $2,097 $38 Growth -4.9% 5.1% -84.9% Dollar millions. Growth from prior year. The Commonwealth collected $2.14 billion in General Fund revenues for July, a decrease of $111.1 million (-4.9%) compared to July of sales and use taxes based on latest three months of data. Excludes transfers to or from the Enhanced Revenue Collection Account. Source: PA Dept. of Revenue. 6. A diffusion index that reflects consumer optimism. Source: UM—Survey of Consumers. 7

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MSC_March_31_2021.pdf

over-year. Sales tax adjusts for shifts and transfers. Wages-Salaries growth rate for 2021 Q1 based on withholding tax collections. Change in Payroll Jobs and Labor Force is change from prior year. Labor market data not seasonally adjusted. Data for in 2020  Automation | release less productive employees | working more Dramatic shift in consumer spending patterns  Online sales tax collections double | shift to larger firms with online presence  For example: retail clothing store employment still down by ~20% 

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Five_Year_Outlook_2020.pdf

20 were dramatically impacted by the COVID-19 pan- demic and related mitigation factors. (See Table 4.1.) Fiscal year collections declined $2.58 billion from the prior year, with roughly $1.4 billion lost due to reduced economic activity and increase of $875 million from the IFO’s official projection due to strength in both non-motor and motor vehicle collections. (See Table 4.4.) Particularly in the early months of the fiscal year, consumer spending was boosted by the first

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TC_2021_Entertainment_Economic_Enhancement_Program.pdf

Tax Credit. The result is converted to full-time equivalent employees. 26 21 The analysis also reduces net sales tax collections for this spending shift. Ticket sales are not subject to sales tax. However, it is likely that some sales tax short-term employment of non-residents while working in the state. Section 4: Economic Analysis | Page 17 Line 20 Tax collections due to the EEEP Tax Credit less tax revenues from the alternative use of state spending. The analysis utilizes the

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State_Tax_Comparison_2020_11.pdf

tax data by one fiscal year. For this analysis, state tax data are from 2019 State Government Tax Collections which represents fiscal year (FY) 2018-19. 3 Local tax data are from 2018 State and Local Government Finances, which represent FY use tax (SUT) to personal income. Sales and use taxes include taxes on general sales, gross receipts taxes collected by utilities and any sales tax levied by local units. For Pennsylvania, SUT includes the local sales tax levied by Allegheny County

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State-Tax-Comparison-2020-01.pdf

tax data by one fiscal year. For this analysis, state tax data are from 2018 State Government Tax Collections which represents fiscal year (FY) 2017-18. 3 Local tax data are from 2017 State and Local Government Finances, which represent FY use tax (SUT) to personal income. Sales and use taxes include taxes on general sales, gross receipts taxes collected by utilities and any sales tax levied by local units. For Pennsylvania, SUT includes the local sales tax levied by Allegheny County

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RTR-2015-04.pdf

Independent Fiscal Office  Commonwealth of Pennsylvania  www.ifo.state.pa.us The Commonwealth collected $4.0 billion in General Fund revenues for April, an increase of $588 million (17.2%) compared to April 2014 9% and 2.4%, respectively. Non-withholding revenues increased by $194 million (18.8%) over the prior year’s weak collections and by $271 million (12.1%) for the fiscal year-to-date.  Corporate net income tax revenues increased by

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RTR-2014-03.pdf

Independent Fiscal Office  Commonwealth of Pennsylvania  www.ifo.state.pa.us The Commonwealth collected $4.22 billion in General Fund revenues for March, an increase of $65 million (1.6%) compared to March 2013 2%) for the month. o Gross receipts tax declined by $18 million (-1.4%) for the month. o Financial institution collections declined by $57 million (-18.0%) for the month.  Sales and use tax collections decreased by $2 million (-0

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RTR-2014-01.pdf

Independent Fiscal Office  Commonwealth of Pennsylvania  www.ifo.state.pa.us The Commonwealth collected $2.36 billion in General Fund revenues for January, an increase of $25 million (1.0%) compared to January 2013 in corporate taxes and sales tax were offset by a decline in personal income tax.  Sales and use tax collections increased by $24 million (3.0%) compared to January 2013. o Nonmotor vehicle deposits increased by $27 million (3.9%

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Revenue_Estimate_2016-06-15_Snapshot.pdf

this estimate is $127 million higher. The economic forecast was revised to reflect recent trends in personal income tax withholding. Collections for this revenue source underperformed through the first five months of the calendar year, reducing the expected growth rate for due to (1) the absence of the non- recurring transfers received in FY15-16 and (2) a return to prior collection patterns for escheats as the temporary effects of the 2014 statutory changes diminish. Liquor Code Amendments – The estimate includes $106

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Revenue-Estimate-2019-05-Presentation.pdf

1% 16.8% rolling conformity Massachusetts 58.6% 6.7% 43.5% static pre-TCJA conf Note: Growth rates compare collections for March and April 2019 to 2018. Sources: Various state agency websites. Conformity status from Tax Foundation. Corporate Income and 063 $11,470 Growth Rate 4.0% 3.2% 2.1% 3.8% 6.6% 3.7% Less: Internet Sales Collections $143 $221 $284 $378 $602 $696 Adjusted Sales and Use $9,350 $9,574 $9,720 $10,003 $10,460

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Revenue Trends Report - March 2013.pdf

Independent Fiscal Office  Commonwealth of Pennsylvania  www.ifo.state.pa.us The Commonwealth collected $4.15 billion in General Fund revenues for March, an increase of 2.2% from the prior year. For the fiscal year-to-date, revenues increased by 3.9% to $20.34 billion. General Fund collections increased by 2.3% and 2.0% over the most recent three and twelve-month periods, respectively. Additional detail can

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Revenue Trends Report - June 2013.pdf

Independent Fiscal Office • Commonwealth of Pennsylvania • www.ifo.state.pa.us The Commonwealth collected $2.69 billion in General Fund revenues for June, a decline of 3.5% from the prior year. For the fiscal year-to-date, revenues increased by 3.5% to $28.65 billion. General Fund collections increased by 2.5% over the most recent three- month period. Additional detail can be found below and on the

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Revenue Trends Report - July 2013.pdf

of Pennsylvania  www.ifo.state.pa.us For July, the first month of fiscal year 2013-14, the Commonwealth collected $1.92 billion in General Fund revenues, an increase of 4.3% over July 2012. General Fund collections increased by 1.8% over the most recent three-month period. Additional detail can be found below and on the

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Revenue Trends Report - April 2013.pdf

Independent Fiscal Office  Commonwealth of Pennsylvania  www.ifo.state.pa.us The Commonwealth collected $3.59 billion in General Fund revenues for April, an increase of 4.9% from the prior year. For the fiscal year-to-date, revenues increased by 4.1% to $23.93 billion. General Fund collections increased by 2.0% and 2.2% over the most recent three and twelve-month periods, respectively. Additional detail can

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Presentation_2017_02_10_EPLC.pdf

Source: Pennsylvania Department of Education. Reliance on Property Tax Varies 10.Feb.2017 23 Group FY 14-15 Property Tax Collections Property Tax Percent of Total Revenue Top 25% $6,785 65.0% Second 25% $2,767 46.9% Third 25% 285 44.5% Note: dollar amounts in millions. School districts were ranked from highest to lowest based on property tax collections as a percentage of total revenue. For example, the top 25% contains the school districts with the greatest reliance on

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Presentation_2016-06-08_GPNP_Budget_Outlook.pdf

90 percent of the increase.  Revenue growth of only $603 million. • Certain prior year transfers do not recur. • Escheat collections return to a “normal” level. • Elimination of the capital stock and franchise tax. • Technical considerations affect timing of revenues. Highlights next revenue update will be on June 15 th . • More recent data on corporate profits suggest weakness. • Wage/salary withholding collections have underperformed. • Sales tax collections have been strong in recent months. • The jobs forecast is important to the revenue estimate

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Presentation-2018-06-PASBO.pdf

Property Tax Discussion June.05.2018 13 PDE released AFR revenue data last month June.05.2018 FY 2016-17 Collections Fiscal Year 2014-15 2015-16 2016-17 Current & Interim 12,285 12,615 13,052 Act 1 Allocations 530 Microdata Sample (PUMS).  35 county groupings. Analyzed the distribution of home values for each grouping.  School property tax collections arrayed into deciles assuming collections follow the distribution of home values.  Computations for the rebate were based on these

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PICPA Presentation_ June 11, 2019.pdf

1% 16.8% rolling conformity Massachusetts 58.6% 6.7% 43.5% static pre-TCJA conf Note: Growth rates compare collections for March and April 2019 to 2018. Sources: Various state agency websites. Conformity status from Tax Foundation. Corporate Income and 063 $11,470 Growth Rate 4.0% 3.2% 2.1% 3.8% 6.6% 3.7% Less: Internet Sales Collections $143 $221 $284 $378 $602 $696 Adjusted Sales and Use $9,350 $9,574 $9,720 $10,003 $10,460

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PBB_2019_PCCD_Report.pdf

from agencies in an efficient manner. Therefore, many of the recommendations in the plans address the need for collection of new data to facilitate the computation of more complete and meaningful outcome metrics. For policy- makers, these first-round plans are  Regional police departments, including web-based training for police officers, local law enforcement accreditation, and local data collection and information systems.  Problem solving courts (PSCs) and diversionary programs that provide alternatives to incarceration for individuals in need of drug

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PBB-Board Hearing Jan 23 2020.pptx

92 cents per dollar | leakage ~$ 1.5 to $1.8 million ▪ Refund for 95 cents per dollar Require more data collection and verification ▪ Track outcomes upon exit | report wages paid or total payroll ▪ Declare other state incentives received (RDTC, BFTP grants Life Sciences ($3m) ▪ KIZ Tax Credit ($15m) | R&D Tax Credit ($55m) | Film Production ($70m ) Clear need for more data collection and verification ▪ Cost per job created | outcomes from job training ▪ Viability of businesses that receive monies | redundant, multiple incentives ▪ D

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PA_Turnpike_Toll_Projections_May_31_2013.pdf

Rafferty This report presents the results from an analysis performed by the Independent Fiscal Office (IFO) to estimate toll revenues collected by the Pennsylvania Turnpike Commission (PTC) through calendar year 2024. The scope of this analysis is limited to forecasting toll was intentionally left blank. - Independent Fiscal Office Page 1 Section I: Introduction This analysis projects toll revenues that will be collected by the Pennsylvania Turnpike Commission (PTC) for calendar years (CY) 2013 to CY 2024. For fiscal year (FY) 2011-12

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MTR-2017-10.pdf

million (3.2 percent) higher than the first four months of last fiscal year. October non-motor vehicle sales tax collections did not increase from the prior year, and that revenue source remains a concern. Corporate net income tax (CNIT) revenues rate of sales tax revenues based on latest three months of data. Excludes transfers to or from the Enhanced Revenue Collection Account. Source: PA Dept. of Revenue. 6. A diffusion index that reflects consumer optimism. Source: UM—Survey of Consumers. 7

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MTR-2017-08.pdf

rate of sales tax revenues based on latest three months of data. Excludes transfers to or from the Enhanced Revenue Collection Account. Source: PA Dept. of Revenue. 6. A diffusion index that reflects consumer optimism. Source: UM—Survey of Consumers. 7 Motor Realty Transfer Tax Personal Income Tax — Withholding Technical Notes  Transfers from the General Fund to the Enhanced Revenue Collection Account were $21.3 million including: $6.3 million from personal income tax; $7.5 million from sales and use

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MTR-2016-01.pdf

General Fund Snapshot The Commonwealth collected $2.50 billion in General Fund revenues for January, an increase of $100.8 million (4.2%) compared to January rate of sales tax revenues based on latest three months of data. Excludes transfers to or from the Enhanced Revenue Collection Account. Source: PA Dept. of Revenue. 6. A diffusion index that reflects consumer optimism. Source: UM—Survey of Consumers. 7

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Mid_Year_FY16-17_Presentation.pdf

1.3 -2.9 Total 147.9 195.3 47.4 Note: dollar amounts in millions. Excludes PIT refunds. ERCA collections for FY 2016-17 are projected to total $430 million, including $100 million for tax amnesty (deposited to General Fund in June). 25.Jan.2017 21 Enhanced Revenue Collections Account Preliminary outlook for FY 2017-18 indicates a 1.8% growth rate. Underlying growth rate is 3.1% after

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MER-2015-06.pdf

S. Department of Labor - Survey of Establishments. 3/ PA Department of Revenue. Excludes transfers to or from the Enhanced Revenue Collection Account. 4/ U.S. Census Bureau– Building Permits. 5/ Federal Reserve Bank of Philadelphia. 6/ U.S. Energy Information Administration Sales-Use Taxes Year-over-year growth rate of all sales and use taxes based on latest three months of collections. 3 Realty Transfer Taxes Year-over-year growth rate of realty transfer taxes based on lat- est three months of

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MER-2015-04.pdf

S. Department of Labor ‐ Survey of Establishments. 3/ PA Department of Revenue. Excludes transfers to or from the Enhanced Revenue Collection Account. 4/ U.S. Census Bureau– Building Permits. 5/ Federal Reserve Bank of Philadelphia. 6/ U.S. Energy Information Administration Sales‐Use Taxes Year‐over‐year growth rate of all sales and use taxes based on latest three months of collections. 3 Realty Transfer Taxes Year‐over‐year growth rate of realty transfer taxes based on lat‐ est three months of

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MER-2015-03.pdf

S. Department of Labor ‐ Survey of Establishments. 3/ PA Department of Revenue. Excludes transfers to or from the Enhanced Revenue Collection Account. 4/ U.S. Census Bureau– Building Permits. 5/ Federal Reserve Bank of Philadelphia. 6/ U.S. Energy Information Administration Sales‐Use Taxes Year‐over‐year growth rate of all sales and use taxes based on latest three months of collections. 3 Realty Transfer Taxes Year‐over‐year growth rate of realty transfer taxes based on lat‐ est three months of

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MER-2015-02.pdf

S. Department of Labor ‐ Survey of Establishments. 3/ PA Department of Revenue. Excludes transfers to or from the Enhanced Revenue Collection Account. 4/ U.S. Census Bureau– Building Permits. 5/ Federal Reserve Bank of Philadelphia. 6/ U.S. Energy Information Administration Sales‐Use Taxes Year‐over‐year growth rate of all sales and use taxes based on latest three months of collections. 3 Realty Transfer Taxes Year‐over‐year growth rate of realty transfer taxes based on lat‐ est three months of

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MER-2015-01.pdf

S. Department of Labor - Survey of Establishments. 3/ PA Department of Revenue. Excludes transfers to or from the Enhanced Revenue Collection Account. 4/ U.S. Census Bureau– Building Permits. 5/ Federal Reserve Bank of Philadelphia. 6/ U.S. Energy Information Administration Sales-Use Taxes Year-over-year growth rate of all sales and use taxes based on latest three months of collections. 3 Realty Transfer Taxes Year-over-year growth rate of realty transfer taxes based on lat- est three months of

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MER-2014-12.pdf

S. Department of Labor ‐ Survey of Establishments. 3/ PA Department of Revenue. Excludes transfers to or from the Enhanced Revenue Collection Account. 4/ U.S. Census Bureau– Building Permits. 5/ Federal Reserve Bank of Philadelphia. 6/ U.S. Energy Information Administration Sales‐Use Taxes Year‐over‐year growth rate of all sales and use taxes based on latest three months of collections. 3 Realty Transfer Taxes Year‐over‐year growth rate of realty transfer taxes based on lat‐ est three months of

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MER-2014-11.pdf

S. Department of Labor ‐ Survey of Establishments. 3/ PA Department of Revenue. Excludes transfers to or from the Enhanced Revenue Collection Account. 4/ U.S. Census Bureau– Building Permits. 5/ Federal Reserve Bank of Philadelphia. 6/ U.S. Energy Information Administration Sales‐Use Taxes Year‐over‐year growth rate of all sales and use taxes based on latest three months of collections. 3 Realty Transfer Taxes Year‐over‐year growth rate of realty transfer taxes based on lat‐ est three months of

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MER-2014-10.pdf

S. Department of Labor ‐ Survey of Establishments. 3/ PA Department of Revenue. Excludes transfers to or from the Enhanced Revenue Collection Account. 4/ U.S. Census Bureau– Building Permits. 5/ Federal Reserve Bank of Philadelphia. 6/ U.S. Energy Information Administration Sales‐Use Taxes Year‐over‐year growth rate of all sales and use taxes based on latest three months of collections. 3 Realty Transfer Taxes Year‐over‐year growth rate of realty transfer taxes based on lat‐ est three months of

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MER-2014-09.pdf

S. Department of Labor ‐ Survey of Establishments. 3/ PA Department of Revenue. Excludes transfers to or from the Enhanced Revenue Collection Account. 4/ U.S. Census Bureau– Building Permits. 5/ Federal Reserve Bank of Philadelphia. 6/ U.S. Energy Information Administration Sales‐Use Taxes Year‐over‐year growth rate of all sales and use taxes based on latest three months of collections. 3 Realty Transfer Taxes Year‐over‐year growth rate of realty transfer taxes based on lat‐ est three months of

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MER-2014-08.pdf

S. Department of Labor ‐ Survey of Establishments. 3/ PA Department of Revenue. Excludes transfers to or from the Enhanced Revenue Collection Account. 4/ U.S. Census Bureau– Building Permits. 5/ Federal Reserve Bank of Philadelphia. 6/ U.S. Energy Information Administration Sales‐Use Taxes Year‐over‐year growth rate of all sales and use taxes based on latest three months of collections. 3 Realty Transfer Taxes Year‐over‐year growth rate of realty transfer taxes based on lat‐ est three months of

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MER-2014-07.pdf

S. Department of Labor ‐ Survey of Establishments. 3/ PA Department of Revenue. Excludes transfers to or from the Enhanced Revenue Collection Account. 4/ U.S. Census Bureau– Building Permits. 5/ Federal Reserve Bank of Philadelphia. 6/ U.S. Energy Information Administration Sales‐Use Taxes Year‐over‐year growth rate of all sales and use taxes based on latest three months of collections. 3 Realty Transfer Taxes Year‐over‐year growth rate of realty transfer taxes based on lat‐ est three months of

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MER-2014-06.pdf

S. Department of Labor ‐ Survey of Establishments. 3/ PA Department of Revenue. Excludes transfers to or from the Enhanced Revenue Collection Account. 4/ U.S. Census Bureau– Building Permits. 5/ Federal Reserve Bank of Philadelphia. 6/ U.S. Energy Information Administration Sales‐Use Taxes Year‐over‐year growth rate of all sales and use taxes based on latest three months of collections. 3 Realty Transfer Taxes Year‐over‐year growth rate of realty transfer taxes based on lat‐ est three months of

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MER-2014-03.pdf

of data. 2 Sales‐Use Taxes Year‐over‐year growth rate of sales taxes based on latest three months of collections. Excludes motor vehicle sales taxes. 3 Motor Vehicle Sales Taxes Year‐over‐year growth rate of motor vehicle sales taxes based on latest three months of collections. 3 Realty Transfer Taxes Year‐over‐year growth rate of realty transfer taxes based on latest three months of collections

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MER-2014-01.pdf

of data. 2 Sales‐Use Taxes Year‐over‐year growth rate of sales taxes based on latest three months of collections. Excludes motor vehicle sales taxes. 3 Motor Vehicle Sales Taxes Year‐over‐year growth rate of motor vehicle sales taxes based on latest three months of collections. 3 Realty Transfer Taxes Year‐over‐year growth rate of realty transfer taxes based on latest three months of collections

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MER-2013-12.pdf

of data. 2 Sales-Use Taxes Year-over-year growth rate of sales taxes based on latest three months of collections. Excludes motor vehicle sales taxes. 3 Motor Vehicle Sales Taxes Year-over-year growth rate of motor vehicle sales taxes based on latest three months of collections. 3 Realty Transfer Taxes Year-over-year growth rate of realty transfer taxes based on latest three months of collections

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MER-2013-11.pdf

of data. 2 Sales-Use Taxes Year-over-year growth rate of sales taxes based on latest three months of collections. Excludes motor vehi- cle sales taxes. 3 Motor Vehicle Sales Taxes Year-over-year growth rate of motor vehicle sales tax- es based on latest three months of collections. 3 Realty Transfer Taxes Year-over-year growth rate of realty transfer taxes based on latest three months of collections

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ITEP-Presentation-11-14-2019.pdf

Federal & state corp taxes falling as % of GSP, income, total taxes  Decline is more rapid at state level  Collections simply not keeping pace with the tax base (profits)  Reason #1: income shifting  Reason #2 : federal tax cuts State Corporate Income Taxes Post-TCJA: ???  New territorial tax system with international anti-avoidance measures. Effectiveness unclear.  Federal collections plummeting (until they’re not) post-TCJA  Hard to know how much is temporary/permanent  Similar problems at

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Budget Hearings Packet.pdf

IFO’s budget, past hearings have included wide-ranging discussions regarding Pennsylvania’s economic and consumer outlook, labor market, revenue collections, demographics, long-term fiscal outlook and energy industry trends. The office has compiled some of the most frequently requested data meet these obligations. Other functions of the IFO include the preparation of monthly reports on the state economy and revenue collections, periodic revenue estimates and special reports and research briefs on various budgetary and economic topics. The enclosure lists recent reports

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Budget Hearings Packet- Web Version.pdf

IFO’s budget, past hearings have included wide-ranging discussions regarding Pennsylvania’s economic and consumer outlook, labor market, revenue collections, demographics, long-term fiscal outlook and energy industry trends. The office has compiled some of the most frequently requested data meet these obligations. Other functions of the IFO include the preparation of monthly reports on the state economy and revenue collections, periodic revenue estimates and special reports and research briefs on various budgetary and economic topics. The enclosure lists recent reports

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ACN_SB1071_A10803_text.pdf

of the close of each fiscal year. The board shall have final authority over the means by which data is collected, maintained and stored and in so doing shall protect the rights of its membership as to privacy and confidentiality. 2016 s contributions, including payroll deductions, pickup contributions, shared-risk contributions and all other payments, including, but not limited to, amounts collected by the State Employees' Retirement System for the reinstatement of previous school service or creditable nonschool service and amounts paid

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2013-10 Monthly Economic Summary.pdf

of data. 2 Sales-Use Taxes Year-over-year growth rate of sales taxes based on latest three months of collections. Excludes motor vehi- cle sales taxes. 3 Motor Vehicle Sales Taxes Year-over-year growth rate of motor vehicle sales tax- es based on latest three months of collections. 3 Realty Transfer Taxes Year-over-year growth rate of realty transfer taxes based on latest three months of collections

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2013-09 Monthly Economic Summary-FINAL.pdf

of data. 2 Sales-Use Taxes Year-over-year growth rate of sales taxes based on latest three months of collections. Excludes motor vehi- cle sales taxes. 3 Motor Vehicle Sales Taxes Year-over-year growth rate of motor vehicle sales tax- es based on latest three months of collections. 3 Realty Transfer Taxes Year-over-year growth rate of realty transfer taxes based on latest three months of collections

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2013-08 Monthly Economic Summary.pdf

of data. 2 Sales-Use Taxes Year-over-year growth rate of sales taxes based on latest three months of collections. Excludes motor vehi- cle sales taxes. 3 Motor Vehicle Sales Taxes Year-over-year growth rate of motor vehicle sales tax- es based on latest three months of collections. 3 Realty Transfer Taxes Year-over-year growth rate of realty transfer taxes based on latest three months of collections

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2013-07 Monthly Economic Summary.pdf

of data. 2 Sales-Use Taxes Year-over-year growth rate of sales taxes based on latest three months of collections. Excludes motor vehi- cle sales taxes. 3 Motor Vehicle Sales Taxes Year-over-year growth rate of motor vehicle sales tax- es based on latest three months of collections. 3 Realty Transfer Taxes Year-over-year growth rate of realty transfer taxes based on latest three months of collections

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2013-06 Monthly Economic Summary - FINAL.pdf

of data. 2 Sales-Use Taxes Year-over-year growth rate of sales taxes based on latest three months of collections. Excludes motor vehi- cle sales taxes. 3 Motor Vehicle Sales Taxes Year-over-year growth rate of motor vehicle sales tax- es based on latest three months of collections. 3 Realty Transfer Taxes Year-over-year growth rate of realty transfer taxes based on latest three months of collections

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2013-05_Monthly_Economic_Summary.pdf

of data. 2 Sales-Use Taxes Year-over-year growth rate of sales taxes based on latest three months of collections. Excludes motor vehi- cle sales taxes. 3 Motor Vehicle Sales Taxes Year-over-year growth rate of motor vehicle sales tax- es based on latest three months of collections. 3 Realty Transfer Taxes Year-over-year growth rate of realty transfer taxes based on latest three months of collections

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2013-04 Monthly Economic Report.pdf

of data. 2 Sales-Use Taxes Year-over-year growth rate of sales taxes based on latest three months of collections. Excludes motor vehi- cle sales taxes. 3 Motor Vehicle Sales Taxes Year-over-year growth rate of motor vehicle sales tax- es based on latest three months of collections. 3 Realty Transfer Taxes Year-over-year growth rate of realty transfer taxes based on latest three months of collections

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2013-03b Monthly Economic Summary.pdf

of data. 2 Sales-Use Taxes Year-over-year growth rate of sales taxes based on latest three months of collections. Excludes motor vehi- cle sales taxes. 3 Motor Vehicle Sales Taxes Year-over-year growth rate of motor vehicle sales tax- es based on latest three months of collections. 3 Realty Transfer Taxes Year-over-year growth rate of realty transfer taxes based on latest three months of collections

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2013-02 Monthly Economic Report.pdf

of data. 2 Sales-Use Taxes Year-over-year growth rate of sales taxes based on latest three months of collections. Excludes motor vehi- cle sales taxes. 3 Motor Vehicle Sales Taxes Year-over-year growth rate of motor vehicle sales tax- es based on latest three months of collections. 3 Realty Transfer Taxes Year-over-year growth rate of realty transfer taxes based on latest three months of collections

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2013-01 Monthly Economic Report.pdf

of data. 2 Sales-Use Taxes Year-over-year growth rate of sales taxes based on latest three months of collections. Excludes motor vehi- cle sales taxes. 3 Motor Vehicle Sales Taxes Year-over-year growth rate of motor vehicle sales tax- es based on latest three months of collections. 3 Realty Transfer Taxes Year-over-year growth rate of realty transfer taxes based on latest three months of collections

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2012-12 Monthly Economic Summary FINAL.pdf

of data. 2 Sales-Use Taxes Year-over-year growth rate of sales taxes based on latest three months of collections. Excludes motor vehi- cle sales taxes. 3 Motor Vehicle Sales Taxes Year-over-year growth rate of motor vehicle sales tax- es based on latest three months of collections. 4 Realty Transfer Taxes Year-over-year growth rate of realty transfer taxes based on latest three months of collections

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2012-11 Monthly Economic Summary- DRAFT 6.pdf

of data. 2 Sales-Use Taxes Year-over-year growth rate of sales taxes based on latest three months of collections. Excludes motor vehi- cle sales taxes. 3 Motor Vehicle Sales Taxes Year-over-year growth rate of motor vehicle sales tax- es based on latest three months of collections. 4 Realty Transfer Taxes Year-over-year growth rate of realty transfer taxes based on latest three months of collections

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2012-10 Monthly Economic Summary FINAL.pdf

of data. 2 Sales-Use Taxes Year-over-year growth rate of sales taxes based on latest three months of collections. Excludes motor vehi- cle sales taxes. 3 Motor Vehicle Sales Taxes Year-over-year growth rate of motor vehicle sales tax- es based on latest three months of collections. 4 Realty Transfer Taxes Year-over-year growth rate of realty transfer taxes based on latest three months of collections

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2012-08 Monthly Economic Summary_Final.pdf

of data. 2 Sales-Use Taxes Year-over-year growth rate of sales taxes based on latest three months of collections. Excludes motor vehicle sales taxes. 3 Motor Vehicle Sales Taxes Year-over-year growth rate of motor vehicle sales taxes based on latest three months of collections. 4 Realty Transfer Taxes Year-over-year growth rate of realty transfer taxes based on latest three months of collections

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2012-07 Monthly Economic Summary10.pdf

of Establish- ments. Sales-Use Taxes Year-over-year growth rate of sales taxes based on latest three months of collections. Excludes motor vehicle sales taxes. Motor Vehicle Sales Taxes Year-over-year growth rate of motor vehicle sales taxes based on latest three months of collections. Realty Transfer Taxes Year-over-year growth rate of realty transfer taxes based on latest three months of collections. Monthly

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TC_2021_Video_Game_Production.pdf

An employment multiplier is applied to the new Pennsylvania spending that results from the VGP Tax Credit. Line 18 Tax collections due to the VGP Tax Credit less tax revenues from the alternative use of state spending. The analysis utilizes the for the tax credit. The net ROI is 8 cents for every $1.00 spent ($0.08 million in tax collections divided by the $1.0 million tax credit) under Scenario 1 and 16 cents for Scenario 2. This figure represents

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TC_2020_Keystone_Innovation_Zone_Tax_Credit.pdf

salaries are likely lower for the young firms that participate in the KIZ program. However, data are not collected on the wages and salaries paid by those firms. Line 11 The total impact on state tax revenues. The tax revenue impact has achieved some portion of its defined purpose. The program has significant potential, but requires much stronger data collection and verification efforts to facilitate a more detailed analysis that will allow researchers to make more definitive statements regarding progress towards legislative

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Select Committee Oct 1 2012 FINAL.pdf

debt existing as of Dec. 31, 2011 retained and phased-out.  State funding based on FY 2012-13 district collections. Three sources:  Raise sales tax rate from 6% to 7%; expand tax base.  Raise PIT rate from 3  It does capture “secondary” effects.  The interaction among tax cuts. For example, property tax cut increases sales tax collections.  It does not capture any macroeconomic “feedback” effects. Impact is unclear.  Such as change in employment levels. 1

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RTR-2015-03.pdf

Independent Fiscal Office • Commonwealth of Pennsylvania • www.ifo.state.pa.us The Commonwealth collected $4.3 billion in General Fund revenues for March, an increase of $56 million (1.3%) compared to March 2014 9.2%). The three-month and twelve-month averages rose by 7.7% and 9.3%, respectively. • Realty transfer tax collections increased $3 million (9.5%) for the month and $26 million (9.4%) for the fiscal year-to-date, with

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RTR-2015-01.pdf

Independent Fiscal Office  Commonwealth of Pennsylvania  www.ifo.state.pa.us The Commonwealth collected $2.4 billion in General Fund revenues in January, an increase of $37 million (1.6%) over January 2014. The distributions from the clearing account ($21 million) that were initially posted to that account in December. Corporate net income tax collections have been strong as three-month revenues increased by $85 million (14.6%) and fiscal year-to-date revenues increased

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RTR-2014-09.pdf

Independent Fiscal Office • Commonwealth of Pennsylvania • www.ifo.state.pa.us The Commonwealth collected $2.6 billion in General Fund revenues in September, an increase of $149 million (6.1%) over September 2013. Fiscal increased by $92 million (19.3%). • Personal income tax revenues increased by $31 million compared to the prior year. Withholding collections increased by $25 million (3.9%), bringing fiscal year-to-date growth to 3.8% and the twelve-month average

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RTR-2014-04.pdf

Independent Fiscal Office  Commonwealth of Pennsylvania  www.ifo.state.pa.us The Commonwealth collected $3.42 billion in General Fund revenues for April, a decrease of $173 million (-4.8%) compared to April 2013 the month. o Gross receipts tax declined by $7 million (-59.6%) for the month.  Sales and use tax collections increased by $44 million (5.8%) compared to last year. Fiscal year receipts were above the prior fiscal year by

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RTR-2014-02.pdf

Independent Fiscal Office  Commonwealth of Pennsylvania  www.ifo.state.pa.us The Commonwealth collected $1.65 billion in General Fund revenues for February, an increase of $19 million (1.2%) compared to February 2013 than last year and $2 million (4.8%) over the prior fiscal year-to-date.  Sales and use tax collections decreased by $23 million (-3.5%) compared to last year. Fiscal year-to-date receipts were above the prior fiscal

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RTR-2013-12.pdf

Independent Fiscal Office  Commonwealth of Pennsylvania  www.ifo.state.pa.us The Commonwealth collected $2.39 billion in General Fund revenues for December, a decrease of $50 million (-2.1%) compared to December 2012 to-date growth rate is 2.2%. Nonwithholding receipts increased by $2 million (1.8%). Fiscal year-to-date nonwithholding collections are up 40 million, a growth rate of 6.2%.  Cigarette tax revenues continued their long-term downward trend

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RTR-2013-11.pdf

Independent Fiscal Office  Commonwealth of Pennsylvania  www.ifo.state.pa.us The Commonwealth collected $1.70 billion in General Fund revenues for November, an increase of $20 million (1.2%) compared to November 2012 period in the prior year.  Realty transfer tax revenues increased by $3 million (13.3%). Fiscal year-to-date collections are up $28 million (19.6%), and the most recent three-month growth rate is 20.7%. Change in General

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Revenue_Estimate_2015-06-15_Snapshot.pdf

earlier projections. The economic forecast is largely unchanged, and the changes to the estimate result from analysis of recent revenue collections and technical factors related to the timing of receipts. Relative to the Executive Budget published in early March, the latest Use Tax – The forecast projects moderate increases in consumer spending, but low inflation may restrain the overall growth rate of collections. Motor vehicle sales are projected to increase, but the rate of increase is expected to be lower than the prior

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Revenue_and_Economic_Update_Presentation_2020_10.pdf

2020 11 -20% -15% -10% -5% 0% 5% 10% Jan Feb Mar Apr May Jun Jul Aug Sep Oct Solid collections Pre-COVID 19 FPUC ends $11 billion economic impact payments start FPUC, PUA and PPP non-essential business closures most is Pandemic Unemployment Assistance. PPP is Paycheck Protection Program. LWA is Lost Wage Assistance. Growth rates control for revenue shifts. Collections partially based on sales from prior month. LWA payments Factors That Motivate Upward Revenue Revision Sales and use tax much

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Revenue Trends Report - August 2013.pdf

Independent Fiscal Office  Commonwealth of Pennsylvania  www.ifo.state.pa.us The Commonwealth collected $1.76 billion in General Fund revenues in August, a decrease of $36 million (-2.0%) compared to August 2012 on the following pages.  Tax revenues decreased by $30 million (-1.7%). An increase in sales and use tax collections of $39 million (5.3%) partially offset decreases in personal income tax revenues totaling $75 million (-9.8%). For the

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RB 2019 Natural Gas Royalties.pdf

royalties paid to the Commonwealth for production on state lands. For CY 2017, the Department of Conservation and Natural Resources collected $73.4 million in royalties and the Game Commission collected $25.3 million in royalties. 5 Data are from various IFO natural gas production reports that are posted to the

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QRE_FY15-16.pdf

by the Independent Fiscal Office on June 15, 2015. The Independent Fiscal Office will prepare quarterly reports to compare actual collections to these estimates. Table 1 FY 2015-16 General Fund Revenue Estimates ($ millions) 2015 Q3 2015 Q4 2016 Q1 2016 3 20.3 6.2 72.2 1 See the following page for additional detail. 2 Includes estimated fiscal year collections of $0.6 million for tavern games. Page 2 Independent Fiscal Office Table 2 FY 2015-16 General Fund Revenue

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Public Employee Retirement Laws of PA Local Governments (2009).pdf

pensions, of The Borough Code (53 P.S. § 46302(2)), the borough council has the power annually to levy and collect a tax at a rate of not more than one-half mill to provide for pensions, retirement, or the purchase The First Class Township Code (53 P.S. § 56709), the township commission- ers have the power annually to levy and collect a tax at a rate of not more than one-half mill to provide for pensions, retirement, or the purchase

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PSBA-Property-Tax-Update-March-2020.pdf

2011-12 2013-14 2015-16 2017-18 2019-20 Income Property Sales Note: Property tax includes current and interim collections and Act 1 allocations, excludes delinquent collections. FY 2019-20 figures are estimates by the IFO. Average Annual Growth 2005-20 2010-20 Income 3.5% 3

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Presentation_PICPA_9-24-2013.pdf

24 . Sept . 2013 10 Are PA Consumers Spending? Sales Taxes nearly one-third of General Fund. Non-Motor Sales Tax collections remain weak. o For first quarter of FY 2013-14, revenues up 1.5%. o Inflation is approximately 1.5% 24 32 9 4 41 24 . Sept . 2013 17 The Bright Spot: Housing Very strong growth in Realty Transfer Tax collections. Reflects gains in number home sold and average price. o Most is quantity impact, not prices. Still far below FY

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Presentation-2018-10-Performance-Based-Budget-Board.pdf

October 15, 2018 PBB Plan Templates  Activities are the building blocks of performance-based budgets  PBB plan templates collect data for fiscal years 2013-14 through 2018-19:  Actual expenditures  Filled complement (salary and wage)  Total activities focusing on support for juvenile court judges and juvenile probation departments, the Juvenile Justice System Enhancement Strategy, and data collection and analysis October 15, 2018 Initial List of Agency Activities 7  General Services  16 activities focusing on procurement

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PICA_Presentation_2020_11.pdf

30% -25% -20% -15% -10% -5% 0% 5% 10% Jan Feb Mar Apr May Jun Jul Aug Sep Oct Solid collections Pre-COVID 19 FPUC ends economic impact payments FPUC, PUA and PPP non-essential business closures most PA businesses able is Pandemic Unemployment Assistance. PPP is Paycheck Protection Program. LWA is Lost Wage Assistance. Growth rates control for revenue shifts. Collections partially based on sales from prior month. Philadelphia values for Jan and Feb represent three-month average growth Dec to

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PBB_Board_Hearing_Apr_27_2021.pdf

lack data on outcomes related to county and municipal program grants ▪ Agencies cite the lack of authority to require data collection, insufficient resources ▪ IT systems are decentralized, outdated and do not support collection of outcome measures Technology plays a key role in driving efficiency and improved outcomes ▪ DHS: Future Child Welfare Case Management

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PBB_2019_DOBS_Report.pdf

from agencies in an efficient manner. Therefore, many of the recommendations in the plans address the need for collection of new data to facilitate the computation of more complete and meaningful outcome metrics. For policy- makers, these first-round plans are Department of Aging track and report elder financial abuse cases.  Recommended: Average customer service rating. This measure collects information on how consumers rate the Department’s customer service. The Department could solicit information and customer feedback to guide efforts for

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PBB-Board-Hearing-Jan-22-2020.pdf

January 22, 2020 4 Some Miscellaneous Caveats Some state benchmark metrics may not be directly comparable  No guarantee states collect and report data same way  Still useful to look at trends over time across states FY 2019-20 data Metric Highlights $1.65/month/line 911 fee ranks 7 th in U.S. ($19.80 annual fee)  $316m collected CY 2018 | per capita amount is $24.69  Considerably higher than most border states (PA relies more on fee

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PA_Economy_League_Presentation.pdf

Pennsylvania Department of Education. 8 19.May.2017 Reliance on Property Tax Varies District Group FY 14-15 Property Tax Collections Property Tax as % of Total Revenue Top 25% $6,785 65.0% Second 25% $2,767 46.9% Third 25% 285 44.5% Notes: dollar amounts in millions. School districts were ranked from highest to lowest based on property tax collections as a percentage of total revenue. For example, the top 25% contains the school districts with the greatest reliance on

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PA_Assoc_of_Community_Bankers_Presentation_2020_12.pdf

8 -20% -15% -10% -5% 0% 5% 10% Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Solid collections Pre-COVID 19 FPUC ends economic impact payments FPUC, PUA and PPP non-essential business closures most PA businesses able is Pandemic Unemployment Assistance. PPP is Paycheck Protection Program. LWA is Lost Wage Assistance. Growth rates control for revenue shifts. Collections partially based on sales from prior month. Philadelphia values for Jan and Feb represent three-month average growth Dec to

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NewsStand_2019_December.pdf

In July, the IFO estimated that if the average NYMEX price for 2019 settled below $3.00, then Impact Fee collections would decline by $37 million compared to 2018. The IFO will release an updated projection of 2019 collections in late January. Metro Unemployment Rates A recent brief by the Federal Reserve Bank of Philadelphia compares unemployment rates in

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MTR-2017-09.pdf

rate of sales tax revenues based on latest three months of data. Excludes transfers to or from the Enhanced Revenue Collection Account. Source: PA Dept. of Revenue. 6. A diffusion index that reflects consumer optimism. Source: UM—Survey of Consumers. 7 Non-Motor Realty Transfer Tax Personal Income Tax — Withholding Technical Notes Transfers from the General Fund to the Enhanced Revenue Collection Account were $26.4 million including: $7.8 million from personal income tax; $6.6 million from sales and use

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MTR-2015-10-Highlights.pdf

tax revenues included a $100 million payment that did not recur this year. In addition, some personal income tax withholding collections associated with weekly and quarterly due dates that occurred in October 2014 were received in late September or early November by $101 million (-4.6%), and monthly non-tax revenues declined by $9 million (-27.8%). After adjusting the 2015 collections for the one-time inheritance tax payment and withholding due dates, monthly tax revenues increased by approximately $124 million (5

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MQRE-FY18-19-July.pdf

1, 2018. Prior Law None. Fiscal Analysis This provision is projected to reduce FY 2018-19 PIT withholding collections by $15 mil- lion. Transfer to Retirement Systems for New Defined Contribution Plans (Act 42) The act requires PIT transfers of $4 System (PSERS). Prior Law None. Fiscal Analysis This provision is projected to reduce FY 2018-19 PIT withholding collections by $10.1 million. FY 2018-19 Monthly and Quarterly Estimates | Page 5 Non-Tax Revenue Treasury (Act 42) The act requires

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Monthly_Economic_Update_July_2020.pdf

In June, the IFO projected that if the average NYMEX price for 2020 settled below $2.25, then impact fee collections would be $147 million, a $53 million (26.5%) decline compared to 2019. This would be the lowest amount of collections since the fee’s inception in 2012. Low natural gas prices resulting from oversupply have been present for several years

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Monthly_Economic_Update_December_2020.pdf

2020, the IFO estimated that if the average NYMEX price for CY 2020 settled below $2.25, then Impact Fee collections would decline by $53 million compared to CY 2019 ($200 million) and reach its lowest level since inception. The IFO will release an updated projection of CY 2020 collections (remitted April 2021) in late January. Monthly Economic Update December 2020 Monthly Data Aug-20 Sep-20 Oct-20 Nov-

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MER-2014-05.pdf

Sales‐Use Taxes Year‐over‐year growth rate of nonmotor and motor vehicle taxes based on latest three months of collections. 3 Realty Transfer Taxes Year‐over‐year growth rate of realty transfer taxes based on lat‐ est three months of collections. Monthly residential sales data are not available at state level. 3 Housing Starts (Building Permits) Year‐over‐year growth rate

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MER-2014-04.pdf

Sales‐Use Taxes Year‐over‐year growth rate of nonmotor and motor vehicle taxes based on latest three months of collections. 3 Realty Transfer Taxes Year‐over‐year growth rate of realty transfer taxes based on lat‐ est three months of collections. Monthly residential sales data are not available at state level. 3 Housing Starts (Building Permits) Year‐over‐year growth rate

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IFO_Hearing_Packet_Feb2019.pdf

to questions about the IFO’s budget, past hearings have included discussions regarding Pennsylvania’s economic outlook, labor market, revenue collections, demographics, long-term fiscal outlook and energy industry trends. This submission includes data, tables and graphs that have been requested frame for transmittal of those plans and reviews. The IFO also prepares monthly reports on the state economy and revenue collections, periodic revenue estimates, coordinates analyses and issues actuarial notes for legislation proposing changes to public employee pension or retirement plans

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EPLC-2-19-21.pdf

2012-13 2014-15 2016-17 2018-19 2020-21 Income Property Sales Note: Property tax includes current and interim collections and Act 1 allocations, excludes delinquent collections. FY 2020-21 figures are estimates by the IFO adjusted for shifts resulting from delayed due dates, an extra withholding

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EPLC Feb 2020 FINAL.pdf

2011-12 2013-14 2015-16 2017-18 2019-20 Income Property Sales Note: Property tax includes current and interim collections and Act 1 allocations, excludes delinquent collections. FY 2019-20 figures are estimates by the IFO. Average Annual Growth 2005-20 2010-20 Income 3.5% 3

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Economic_and_Revenue_Update_2020.pdf

about the IFO’s budget, past hearings have included wide-ranging discussions regarding Pennsylvania’s economic outlook, labor market, revenue collections, demographics, long-term fiscal outlook and natural gas trends. This submission includes data, tables and graphs that have been requested tax credit reviews. Other functions of the IFO include the preparation of monthly reports on the state economy and revenue collections, periodic revenue estimates, coordinating analyses and issuing actuarial notes for legislation that proposes changes to public employee pension or retirement

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Releases

exporter of electricity in the country. Tags: electricity , energy , gas Full Report August 2021 Revenue Update September 01, 2021 | Revenue & Economic Update The Commonwealth collected $2.57 billion in General Fund revenues for August, an increase of $25.9 million (1.0%) compared to August Natural Gas Production Report, 2021Q2 August 24, 2021 | Natural Gas This report for the second quarter of 2021 uses data collected by the PA Department of Environmental Protection to develop statewide and county-level tabulations of production volume and well counts

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The Payroll Tax Cut Extension FINAL.pdf

tax revenues. 3 Additional General Fund tax revenues would also be generated through higher personal income and corporate income tax collections since the additional spending increases the profits of business owners. However, data are not available regarding the average profit margin

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TC_2021_Resource_Enhancement_and_Protection.pdf

agricultural production and sales, land use, production practices, finances, farm labor and wages and other industry detail. Because data are collected every five years, the tables in this section display data for 2007, 2012 and 2017. Table 3.1 presents sales

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TC_2020_Research and Development Tax Credit.pdf

of technology-oriented businesses, particularly small start-up businesses.” Firms can only sell unused RDTCs that exceed any collectible tax liability against which the credit may be applied. S corporations cannot apply to sell or assign any RDTC that has been

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TC_2020_Mobile Telecommunications Broadband Investment Tax Credit.pdf

spending. The net ROI is 9 cents for every $1.00 spent ($0.43 million in new tax collections divided by the $5 million tax credit). It is noted that this figure represents a net return, because it deducts the amount

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TC_2019_New_Jobs_Tax_Credit_Report.pdf

tax credit are best positioned to track credit performance. If the JCTC is retained, performance metrics should be collected and potential metrics could include the following:  New jobs filled by residents versus non-residents.  Annual income paid to new

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TC_2019_Historic_Preservation_Tax_Credit_Report.pdf

credit are best positioned to track rehabilitation projects. If the tax credit is increased, performance metrics should be collected for the next tax credit review that occurs every five years. Potential metrics could include the following:  Change in tax assessment

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TCJA-Update-August-2018.pdf

congressional district of the taxpayer. 3 The federal income tax changes do not directly impact state personal income tax (PIT) collections because Pennsylvania does not conform to the federal tax base. The IFO assumed that state PIT 1 See htt p

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SR2017-06.pdf

Department of Education. Calculations by the IFO. 1 The assessed value share is weighted by 2015 county real estate tax collections as reported by the Department of Community and Economic Development. 2 Totals are not supplied because they would not be

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Senate Appropriations Response Letter 3-6-2020.pdf

is still in the early stages and data on zone investment or projected economic impact are not yet available. Senator Collett asked about states that have implemented student loan debt forgiveness programs and how much those programs might positively impact demographic

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RTR-2014-12.pdf

Independent Fiscal Office  Commonwealth of Pennsylvania  www.ifo.state.pa.us The Commonwealth collected $2.7 billion in General Fund revenues in December, an increase of $319 million (13.4%) over December 2013. Fiscal

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RTR-2014-11.pdf

Independent Fiscal Office  Commonwealth of Pennsylvania  www.ifo.state.pa.us The Commonwealth collected $1.7 billion in General Fund revenues in November, an increase of $34 million (2.0%) over November 2013. Fiscal

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RTR-2014-10.pdf

Independent Fiscal Office  Commonwealth of Pennsylvania  www.ifo.state.pa.us The Commonwealth collected $2.2 billion in General Fund revenues in October, an increase of $156 million (7.5%) over October 2013. Fiscal

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RTR-2014-05.pdf

Independent Fiscal Office • Commonwealth of Pennsylvania • www.ifo.state.pa.us The Commonwealth collected $1.86 billion in General Fund revenues for May, a decrease of $167 million (-8.2%) compared to the prior

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RTR-2013-10.pdf

Independent Fiscal Office  Commonwealth of Pennsylvania  www.ifo.state.pa.us The Commonwealth collected $2.09 billion in General Fund revenues for October, an increase of $47 million (2.3%) compared to October 2012

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Revenue_Estimate_2016-06-15_Release.pdf

and salary withholding payments,” Knittel noted. “Wages are the largest component of the state economy, and the recent weakness in collections motivated a revision to the economic outlook for 2016 and 2017.” A copy of the revenue estimate is posted on

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Revenue_Estimate_2015-06-15_Release.pdf

for personal income and corporate income taxes are recorded. Accordingly, the estimate for the current fiscal year is based on collections through May and the IFO’s expectations for June revenues. FY 2015-16 unrestricted General Fund revenues are projected to

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Revenue_Estimate_2014-06-16_Snapshot.pdf

15 than it did for FY13-14. Sales and Use Tax – The forecast projects a moderate increase in non-motor collections consistent with higher consumer confidence, an improving labor market and increased disposable income. Receipts are restrained by low inflation for

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Revenue_Estimate_2014-06-16_Release.pdf

for personal income and corporate income taxes are recorded. Accordingly, the estimate for the current fiscal year is based on collections through May and the IFO’s expectations for June revenues. FY 2014-15 unrestricted General Fund revenues are projected to

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Revenue-Update-2020-04.pdf

if impacts related to COVID-19 are excluded. The overage was attributable to inheritance tax revenues ($101 million) and escheats collections ($118 million). Other revenue sources were relatively close to estimate. Table 2 (next page) displays relevant economic growth rates for

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Revenue-Estimate-2020-05-Presentation.pdf

 No dining out | more home improvement, internet shopping, fast food May revenues provide some optimism  Non-motor vehicle collections down ~20%  Motor vehicle revenues pick up | April -89%, May -67% YOY  Anticipate pent-up demand for personal

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RB-2016-02.pdf

279,094 Represents indirect spending on tax incen‐ tives, which reduces the amount of tax revenue that would otherwise be collected by the Com‐ monwealth. Special Fund Expenditures $311,006 $309,082 Represents direct state spending on economic development incentives through

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QRE_FY15-16.xlsx

4 22.3 20.3 6.2 72.2 1 See below for additional detail. 2 Includes estimated fiscal year collections of $0.6 million for taverrn games. FY 2015-16 General Fund Revenue Estimates - Detail (dollar amounts in millions) 2015

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Presentation_PBC_6-12-14.pdf

for tax rate increase in 2004. Long Term Challenges ahead for PA Budget o Moderate economic growth. o Lagging tax collections. o Increased demand for healthcare. o Pension contributions. Can States Escape Demographic Constraints? o Export based industries. o Attraction of

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Presentation_Lancaster_Chamber_2017-07-14.pdf

17 do not recur.  Tax amnesty produced $100 million of one-time revenue in FY 2016-17 and reduces collections by $10 million in FY 2017-18.  Other adjustments: CSFT elimination ($25 million), new tax credits taking effect ($20

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Presentation-2019-04-House-Financial-Rescue-Caucus.pdf

1) ecommerce/nexus, (2) digital downloads and (3) marketplace sales. For FY 2018-19, the IFO estimates that internet sales collections from all three sources total $600 million. Sources: Independent Fiscal Office, U.S. Bureau of Labor Statistics, U.S. Bureau

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Presentation-2018-11-19-CCAP.pdf

official estimate Note: millions of dollars. Gains are relative to IFO official estimate released in June 2018. Sales-Use Tax Collection on Internet Sales November 19, 2018 10 15-16 16-17 17-18 18-19 19-20 20-21 Sales-

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Presentation-2018-06-PICPA.pdf

16 adjusted to reflect an extra deposit day. Estimated-Final growth rate adjusted for net inflows from the Enhanced Revenue Collection Account (ERCA). Non-Motor growth rate controls for transfers and tax law changes. Income and Sales Tax Revenues June.12

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Pitt_Chamber_Presentation.pdf

Strong acceleration of estimated income tax payments in Dec-Jan (+33%)  Mini-casino license auctions strong (+$90 million), inheritance collections above estimate (+$30 million)  Significant revenue uncertainty for remainder of fiscal year Longer-term budget outlook remains challenging under

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PBB_Board_Hearing_Apr_26_2021.pdf

of qualified nonprofits on program website ▪ Most provide credit at a rate of 50% Performance data difficult to compile ▪ DCED collects significant amount of project performance data ▪ Unable to measure outcomes due to nature of diverse projects/measures April 26, 2021

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PBB_2019_Criminal_Justice_Report.pdf

from agencies in an efficient manner. Therefore, many of the recommendations in the plans address the need for collection of new data to facilitate the computation of more complete and meaningful outcome metrics. For policy- makers, these first-round plans are

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PASBO_March_17_2021.pdf

2020  More automation | release less productive employees | working more Dramatic shift in consumer spending patterns  Online sales tax collections double | shift to larger firms with online presence  Investment in the home: gyms, meal preparation, entertainment, remodels Remote working

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Official-Revenue-Estimate-2020-06-Presentation.pdf

 No dining out | more home improvement, internet shopping, fast food May revenues provide some optimism  Non-motor vehicle collections down ~20%  Motor vehicle revenues pick up | April -89%, May -62% YOY  Anticipate pent-up demand for personal

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NewsStand_2019_October.pdf

released new estimates on taxpayer compliance. It report- ed an annual gap of $381 billion between taxes owed and taxes collected. The analysis covered tax years 2011 through 2013 and found that voluntary compliance remained relatively unchanged from prior years at

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NewsStand_2019_July.pdf

link between student debt, other forms of credit utilization and labor market outcomes. Using a natural experiment created by recent collections lawsuits, the study followed two cohorts and found that debt cancellation for borrowers in default on student loans led to

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Newsstand_2018_October.pdf

suggest that the Pennsylvania economy recorded robust growth for the third quarter of 2018. Based on non-motor sales tax collections, taxable consumer and business spending increased 8.3% compared to the prior year. The comparable figure for motor vehicle sales

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Newsstand_2018_December.pdf

of $235 million if the average price exceeded $3.00. If the price fell below that threshold, then impact fee collections would decline by $45 million. The IFO will release an updated impact fee forecast for CY 2018 (remitted April 2019

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Newsstand_2018_August.pdf

ing on services.) Recent sales tax data from Pennsylvania also suggest strong consumer spending. For May to July, sales tax collections increased by 7.5% from the same time period in the prior year. That pace reflects the strongest 3-month

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Municipal_Analysts_Presentation.pdf

FY 2017-18: revenue forecast holding up so far.  But forecast assumes federal tax cut.  Uncertainty could impact collections (again).  Healthcare and Pensions drive spending growth.  SERS employer contribution rate projected to fall.  State share of

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Monthly_Economic_Update_September_2021.pdf

consumer purchases because it excludes rent imputed to homeowners. Data Reveal Steep Increase in Rental Prices Across Pennsylvania Recent data collected and compiled by two non-governmental firms find rapid growth in rental prices for urban areas across the state. On

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Monthly_Economic_Update_April_2020.pdf

data do not reflect the full impact of the COVID-19 pandemic. The U.S. Bureau of Labor Statistics data collection date (the week of March 12) occurred prior to enactment of most statewide measures to combat the outbreak. April employment

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mid-year-FY16-17-press-release.pdf

pattern. Revenue increases from modest economic growth largely are offset by the absence of one- time measures used to boost collections in FY 2016-17.” The IFO’s most recent estimate for FY 2016-17 is $716 million lower than the

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mid-year-FY14-15-press-release.pdf

are expected to translate to higher consumer spending on goods and services, netting an additional $60 million in sales tax collections.” Knittel cautioned that reductions in the estimates for other revenue sources offset some of the gains from the improved economic

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mid-year-FY14-15-presentation.pdf

Tax Revenue 478 454 24 Dollar amounts are in millions. FYTD actuals updated on Feb. 2 nd to reflect January collections. 17 28.Jan.2015 18 Increases Decreases Corporate Net Income $230 Non‐Tax ‐$160 Sales and Use 160 Personal Income

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Memo-2019-03-Income-and-Property-Tax-Burden-for-Retirees.pdf

00% Indiana 25 $6,757 2.87% Wyoming 44 $0 0.00% 2.84% 2.57% 1 Ratio of PIT collections to state personal income (excluding retirement income). Note: dollar amounts in millions. Table 3 Personal Income Tax U.S. Weighted

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Letter_to_JSGC.pdf

of the economic return to the Commonwealth, racetrack operators, horsemen, breeders and other stakeholders on the investment of gaming assessments collected under the act of July 5, 2004 (P.L.572, No.71).” The IFO has strong concerns and objections regarding

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Initial_Estimate_May_2017_Press_Release.pdf

spending. Income shifting from 2016 to 2017 in anticipation of lower federal tax rates may have contributed to the weak collections.” FY 2017-18 unrestricted General Fund revenues are projected to be $32.45 billion, an increase of $632 million (2

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IFO_Testimony_Feb2018.pdf

potential for further expansion into next fiscal year. There are three concerns which temper this optimistic outlook. First, sales tax collections were weak in January, and nearly flat from the prior year. Many states experienced similar weakness in sales tax revenues

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IFO_Revenue_Estimate_2013-14_Mid-Year_Update.pdf

of Revenue was $29.116 billion, a difference of $38.5 million. The IFO reviewed its estimate based on actual collections for the first half of the fiscal year and expectations for the second half. Through December, revenues are $65 million

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IFO testimony CR Hearing Jan 29 2020.pdf

full information regarding the characteristics of potential unitary groups. Despite the uncertainty, combined reporting is generally assumed to increase tax collections in high rate states due to the various methods that can be used to shift profits to low or no

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House_Appropriation_Response_Letter_3_17_2021.pdf

legalization. These states include Colorado (recreational use legalized in 2012), Washington (2012), Oregon (2014) and California (2016). While state revenue collections from recreational marijuana are well-documented, states are generally unable to estimate the costs of externalities associated with legalized adult

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HAC testimony Feb 2019.pdf

from Act 43 of 2017, which required all internet sellers with annual sales above $10,000 in the state to collect tax or comply with reporting requirements. The revised estimate of this provision increases revenues by roughly $200 million. This is

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Econ Summit Presentation Feb 28 2017.pdf

770 49 6.9% -75 -10.5% Note: millions of dollars. Slide has been updated to reflect February’s actual collections. Base amounts control for tax law changes (e.g., cigarette tax) and timing issues. Gaming Trends Also Weak February 28

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County-Prop-Tax-RB.pdf

total household income. This figure includes all types of property taxes: school district, county and municipal. Based on property tax collection data reported by the Pennsylvania Department of Education (PDE) and Department of Community and Economic Development (DCED), the IFO estimates

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CompetePA_March_11_2021.pdf

in 2020  Automation | release less productive employees | working more Dramatic shift in consumer spending patterns  Online sales tax collections double | shift to larger firms with online presence  For example: retail clothing store employment still down by ~50% 

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Budget_Hearing_Testimony-Feb2014.pdf

raises to current workers. An improvement in the labor market would support stronger sales and use tax and employer withholding collections. FY 2014-15 Revenue Outlook Stable federal tax policy and the resolution of federal budget issues remove some of the

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2020_Mid_Year_Update.pdf

20-21 Gross Receipts  EIA electric sales | CY 2018 +3.5% | CY 2019 -5.3% (through Oct)  Total collections TY 2018 -11.5% | estimated payments TY 2019 +16%  Fiscal year revenues | 18-19 +8.7% | 19-20 -4

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2013_special_report_funding_and_reforming_public_employee_retirement_systems.pdf

cover uniformed and non-uniformed employees in Pennsylvania’s cities, boroughs, and townships. Our review included an emphasis on data collected from audit reports of local government pension plans released between July 1, 2009 through June 30, 2011. It identifies the

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2007_divestment_complete_report.pdf

the California Public Employees Retirement System – which has over $17 billion invested in 201 such companies, the results were remarkably uniform: On average, America’s Top 100 pension systems invest between 15 and 23 percent of their portfolio in companies that

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2002_dbdc_report.pdf

and who receive no benefit.” – House Resolution No. 266 Defined Contribution Plan Experience The Employee Benefit Research Institute (EBRI) has collected and published data on many private sector 401(k) plans over a period of years. The data distinguishes between employees

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