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Revenue Department Releases Fiscal Year 2020-21 Collections


Revenue Department Releases Fiscal Year 2020-21 Collections
07/01/2021
Harrisburg, PA Pennsylvania ended the 2020-21 fiscal year with $40.4 billion in General Fund collections, Revenue Secretary Dan Hassell reported today. That total is $3.4 billion, or 9.3 percent, above estimate.
Final revenue collections were stronger than expected in nearly every tax type. This has been a trend in recent months as Pennsylvania s economy has rebounded from the impact of the COVID-19 pandemic.
Fortunately, we are in a much different situation than we encountered a year ago at this time, said Secretary Hassell, noting the commonwealth ended the 2019-20 fiscal year with revenue collections that were $3.2 billion, or 9.1 percent, below estimate. This fiscal year closed with the largest surplus in the commonwealth s history. As part of that, more than $2.5 billion will be moved to the Rainy Day Fund, which will help Pennsylvania to weather a future economic downturn. ....

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