Monday, May 25, 2015

Philly collects record $24M in monthly sales taxes

Thanks to a strong Christmas shopping season

Philly collects record $24M in monthly sales taxes

Philadelphia collected $23.9 million from the city's surcharge on state sales taxes last month, "the highest one-month sales tax collection ever recorded by the City," according to elected city controller Alan Butkovitz.

February’s total, which includes Christmas sales tax collections recorded late due to the delay in sending the city's piggybacked tax payments from Philadelphia to Harrisburg and back, rose $1.14 million from the year before.

The city sales tax hit the current 8% (2% for the city, 6% for the state) in 2010 after state and city legislators gave Mayor Nutter the increase to fill the gap from falling property taxes and rising retiree pension fund payments.

The previous record month was August 2010, when sales tax collections topped $23.4 million.

About this blog

PhillyDeals posts drafts, transcripts and updates of Joseph N. DiStefano's columns and stories about Philly-area business, which he's been writing since 1989.

DiStefano studied economics, history and a little engineering at Penn and taught writing at St. Joseph's. He has written thousands of columns and articles for the Inquirer, Bloomberg and other media, wrote the book Comcasted, and raised six children with his wife, who is a saint.

Reach Joseph N. at JoeD@phillynews.com, distefano251@gmail.com, 215.854.5194 or 302.652.2004.

Reach Joseph N. at JoeD@phillynews.com or 215 854 5194.

Joseph N. DiStefano