Harrisburg, PA — Pennsylvania collected $3.0 billion in General Fund revenue in February, which was $35.0 million, or 1.2 percent, less than anticipated, Revenue Secretary Pat Browne reported today. Fiscal year-to-date General Fund collections total $28.4 billion, which is $381.9 million, or 1.4 percent, above estimate.
“We are nearly $400 million above our overall projections for the current fiscal year, despite February collections coming in slightly under estimate,” said Secretary Browne. “We’re anticipating positive results in the coming months — especially in March and April when major due dates fall for corporate taxpayers and personal income tax filers. We’re positioned to finish the current fiscal year in a very strong place, which is evidence our economy is growing because of the strategic investments made by the Shapiro Administration.”
Sales tax receipts totaled $1.1 billion for February, $25.5 million below estimate. Year-to-date sales tax collections total $10.2 billion, which is $14.7 million, or 0.1 percent, more than anticipated.
Personal income tax (PIT) revenue in February was $1.3 billion, $13.1 million above estimate. This brings year-to-date PIT collections to $11.6 billion, which is $186.6 million, or 1.6 percent, above estimate.
February corporation tax revenue of $192.7 million was $28.1 million below estimate. Year-to-date corporation tax collections total $2.7 billion, which is $3.8 million, or 0.1 percent, above estimate.
Inheritance tax revenue for the month was $132.4 million, $6.2 million below estimate. This brings the year-to-date total to $1.2 billion, which is $58.4 million, or 5.2 percent, above estimate.
Realty transfer tax revenue was $46.0 million for February, $3.0 million above estimate. This brings the fiscal-year total to $409.9 million, which is $17.2 million, or 4.4 percent, more than anticipated.
Other General Fund tax revenue, including cigarette, malt beverage, liquor and gaming taxes, totaled $126.2 million for the month, $1.6 million below estimate. This brings the year-to-date total to $1.1 billion, which is $42.8 million, or 4.0 percent, above estimate.
Non-tax revenue totaled $44.7 million for the month, $10.4 million above estimate, bringing the year-to-date total to $1.2 billion, which is $58.4 million, or 5.2 percent, above estimate.
In addition to the General Fund collections, the Motor License Fund received $239.8 million for the month, $12.5 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 $2.1 billion, which is $15.4 million, or 0.7 percent, above estimate.