Revenue Commissioner Alan LeBovidge today announced revenue collections for April totaled $1.408 billion, an increase of $58 million or 4.3 percent over last April. Year-to-date revenue collections totaled $12.104 billion, an increase of $72 million or 0.6 percent.
Receipts for April were $22 million below the midpoint of the benchmark range of $1.430 billion. Year-to-date revenues were $59 million above the benchmark that was revised by Administration & Finance in February.
"Withholding and sales tax collections continued to lag," LeBovidge said. "However, a continued strong showing in corporate and business taxes kept the Commonwealth close to the benchmark for the month."
Income tax collections for April totaled $910 million, an increase of $23 million or 2.5 percent over last April. Withholding tax collections totaled $515 million, a decrease of $23 million or 4.3 percent from last April. Sales and use tax collections were $298 million, down $13 million or 4.1 percent from last April. Corporate and business tax collections in April were $71 million, an increase of $38 million or 117.5 percent over last April.
Year-to-date income tax collections totaled $6.577 billion, a decrease of $299 million or 4.4 percent from last year. Year-to-date withholding tax collections were $5.918 billion, down $182 million or 3.0 percent. Sales and use tax receipts for the first 10 months of fiscal 2003 were 3.070 billion, down $5 million or 0.2 percent. Year-to-date corporate and business taxes were $1.068 billion, an increase of $189 million or 21.5 percent.
<strong>Monthly Revenue Report</strong> (PDF) (through April 30, 2003)
Monthly revenue, fiscal year-to-date revenue and actual tax collections.