Harrisburg, PA — Pennsylvania collected $5 billion in General Fund revenue in December, which was $238.5 million, or 5 percent, more than anticipated, Revenue Secretary Pat Browne reported today. Fiscal year-to-date General Fund collections total $21.5 billion, which is $238.7 million, or 1.1 percent, above estimate.
“We’re in a very strong position halfway through the current fiscal year,” said Secretary Browne. “We’re seeing positive results from some of our major revenue sources, which contributed to the surplus in December General Fund collections. This is a good place for us to be with the personal income tax filing season right around the corner.”
“Our revenue collections are off to another strong start this fiscal year, which continues the positive trend we’ve seen since Governor Shapiro took office,” said Secretary of the Budget Zachary Reber. “The Governor has prioritized sound fiscal management while launching a strong economic development strategy, contributing to a growing economy. These actions are paying off and strengthening the Commonwealth’s financial future.”
Sales tax receipts totaled $1.3 billion for December, $45.3 million above estimate. Year-to-date sales tax collections total $7.8 billion, which is $45.3 million, or 0.6 percent, more than anticipated.
Personal income tax (PIT) revenue in December was $1.6 billion, $86.6 million above estimate. This brings year-to-date PIT collections to $8.4 billion, which is $86.5 million, or 1 percent, above estimate.
December corporation tax revenue of $981.1 million was $57.7 million above estimate. Year-to-date corporation tax collections total $2.3 billion, which is $57.6 million, or 2.6 percent, above estimate.
Inheritance tax revenue for the month was $143.9 million, $9.4 million above estimate, bringing the year-to-date total to $872.5 million, which is $9.4 million, or 1.1 percent, above estimate.
Realty transfer tax revenue was $66.7 million for December, $12.5 million above estimate, bringing the fiscal-year total to $304.5 million, which is $12.5 million, or 4.3 percent, more than anticipated.
Other General Fund tax revenue, including cigarette, malt beverage, liquor, and gaming taxes, totaled $180.7 million for the month, $28.1 million above estimate. This brings the year-to-date total to $846.1 million, which is $28.5 million, or 3.5 percent, above estimate.
Non-tax revenue totaled $703.7 million for the month, $1.1 million below estimate, bringing the year-to-date total to $1 billion, which is $1.1 million, or 0.1 percent, below estimate.
In addition to the General Fund collections, the Motor License Fund received $229.9 million for the month, $1.3 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 $1.6 billion, which is $3.2 million, or 0.2 percent, below estimate.
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