PA Tax Collections Continue to Lag

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Pennsylvania’s General Fund collections through October continued to lag significantly. Although year-to-date collections for many taxes appear to be higher than for the same period last year, they are significantly behind projections. If collections do not soon improve, the Commonwealth likely will have to slow spending, freeze hiring, etc. to bring the budget back to balance for the remainder of the fiscal year ending June 30, 2012.....

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DISCLAIMER: Because of the generality of this update, the information provided herein may not be applicable in all situations and should not be acted upon without specific legal advice based on particular situations.

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