Revenue collections for April totaled $2.024 billion, the largest single monthly total ever in the Commonwealth, Revenue Commissioner Alan LeBovidge announced today.
The monthly collections increased by $203 million or 11.2 percent over last April. Year-to-date revenue collections totaled $13.937 billion, an increase of $963 million or 7.4 percent. Receipts for April were $318 million above the monthly benchmark, which was revised upward just two weeks ago. Year-to-date revenues were $316 million above the new April 15 benchmark for the first 10 months of fiscal 2005.
"The biggest month we've ever had is due mainly to personal income tax payments with returns and estimated payments on personal income," LeBovidge said.
Income tax collections for April totaled $1.532 billion, an increase of $240 million or 18.5 percent from last April. Withholding tax collections totaled $611 million, an increase of $11 million or 1.8 percent. Sales and use tax collections were $317 million, up $10 million or 3.2 percent. Corporate and business tax collections in April were $38 million, a decrease of $33 million or 46.6 percent over last April.
Year-to-date income tax collections were $7.982 billion, an increase of $724 million over last year at this time. Year-to-date withholding tax collections were $6.442 billion, up $254 million or 4.1 percent over last year. Sales and use tax collections for the first 10 months of fiscal '05 were $3.198 billion, up $124 million or 4.0 percent over the same period last year. Year-to-date corporate and business tax collections were $1.282 billion, an increase of $11 million or 0.9 percent over last year at this time.
<strong>Monthly Revenue Report</strong> (PDF) (through April 30, 2005)
Monthly revenue, fiscal year-to-date revenue and actual tax collections.
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