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Monday, December 2, 2024

Pennsylvania's Q2 individual income tax revenue up 28.9% from previous quarter

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Patrick M. Browne Secretary of Revenue at Pennsylvania Department of Revenue | Pennsylvania Department of Revenue

Patrick M. Browne Secretary of Revenue at Pennsylvania Department of Revenue | Pennsylvania Department of Revenue

Pennsylvania collected $5.5 billion in individual income taxes during the second quarter of 2024, a 28.9% increase over the first quarter, according to the U.S. Census Bureau's Quarterly Summary of State and Local Taxes.

The previous quarter's individual income tax revenue was $4.3 billion.

Individual income taxes are based on net personal income and taxes imposed on such income as dividends, interest, and income from intangibles.

In addition to detailed tax revenue data from each state, the Quarterly Summary of State and Local Government Tax Revenue includes an estimate of state and local government tax revenue at a national level.

The Census Bureau cautions that it sets the tax classifications among the survey categories, and they may differ from the classifications set by the state governments.

Overall, Pennsylvania collected $15.8 billion in combined tax revenues in the second quarter of 2024, an increase from the $15 billion collected in the previous quarter.

Q2 Pennsylvania Tax Collections
Type of TaxAmount (millions)
Property Taxes$42
Sales and Gross Receipts Taxes$6,888
Individual Income Taxes$5,511
Corporation Net Income Taxes$1,861
License Taxes$761
Other Taxes$673
Source: U.S. Census Bureau

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