Pennsylvania- Revenue Plunges in April, Due Mainly Due to Extending Filing Deadlines, Officials Say MAY 1, 2020

Pennsylvania collected only about half of the $4.4 billion it had budgeted for the month of April, a drop due in large part to the disruption caused by the coronavirus pandemic.

The Pennsylvania Department of Revenue estimates that approximately $1.7 billion of the $2.2 billion shortfall in April can be attributed to moving due dates for various taxes.

It expects to make up the majority of the $1.7 billion shortfall when those tax payments occur in the next fiscal year, officials said. An additional $395.3 million of the April shortfall is due to reduced economic activity during the pandemic, officials said.

Most Pennsylvania businesses were ordered to shut their doors by Gov. Tom Wolf with partial reopening of some businesses expected to begin on May 8.

For more information: TheMercury

The Mercury
by: mike urban
may 1, 2020