Harrisburg, PA — Pennsylvania collected $3 billion in General Fund revenue in August, which was $21.6 million, or 0.7 percent, less than anticipated, Revenue Secretary Pat Browne reported today. Fiscal year-to-date General Fund collections total $6.4 billion, which is $21.5 million, or 0.3 percent, below estimate.
“Our revenue collections are nearly right where we expected them to be two months into the fiscal year. All tax types are within their expected ranges,” said Secretary Browne. “We’re also seeing some positive year-over-year growth from some of our major revenue sources, which bodes well for the months to come. The slight shortfall this month was driven by normal fluctuations in non-tax collections.”
Sales tax receipts totaled $1.3 billion for August, $4.2 million above estimate. Year-to-date sales tax collections total $2.8 billion, which is $4.2 million, or 0.1 percent, more than anticipated.
Personal income tax (PIT) revenue in August was $1.2 billion, $17.5 million above estimate. This brings year-to-date PIT collections to $2.5 billion, which is $17.4 million, or 0.7 percent, above estimate.
August corporation tax revenue of $89.2 million was $4.7 million below estimate. Year-to-date corporation tax collections total $294.0 million, which is $4.8 million, or 1.6 percent, below estimate.
Inheritance tax revenue for the month was $171.6 million, $18.1 million above estimate. This brings the year-to-date total to $393.2 million, which is $18.1 million, or 4.8 percent, above estimate.
Realty transfer tax revenue was $62.9 million for August, $1.7 million below estimate. This brings the fiscal-year total to $51 million, which is $1.7 million, or 3.2 percent, less than anticipated.
Other General Fund tax revenue, including cigarette, malt beverage, liquor and gaming taxes, totaled $143.1 million for the month, $0.1 million below estimate. This brings the year-to-date total to $222.8 million, which is $0.2 million, or 0.1 percent, below estimate.
Non-tax revenue totaled $17.5 million for the month, $54.8 million below estimate. This brings the year-to-date total to $57.8 million, which is $54.6 million, or 48.6 percent, below estimate.
In addition to the General Fund collections, the Motor License Fund received $280.6 million for the month, $9.3 million below estimate. Fiscal year-to-date collections for the fund — which include the commonly known gas and diesel taxes, as well as other license, fine and fee revenues — total $570 million, which is $3.5 million, or 0.6 percent, below estimate.