Harrisburg, PA — Pennsylvania ended the 2024-25 fiscal year with $46.4 billion in General Fund collections, Revenue Secretary Pat Browne reported today. That total is $321.0 million, or 0.7 percent, above estimate.
“We’re ending the fiscal year with a meaningful surplus — that puts us in a very strong financial position,” said Secretary Browne. “Our General Fund revenue collections for the fiscal year also finished within 1 percent of our original projections. That result is a testament to the exceptional work that our research staff did to build a reliable but conservative forecast.”
Below is an overview of June revenue collections and final collections for the fiscal year:
Sales tax receipts totaled $1.3 billion for June, $8.5 million above estimate. Fiscal year-to-date sales tax collections total $14.7 billion, which is $157.6 million, or 1.1 percent, more than anticipated.
Personal income tax (PIT) revenue in June was $1.6 billion, $30.4 million above estimate. This brings fiscal-year total PIT collections to $19.0 billion, which is $186.2 million, or 1.0 percent, above estimate.
June corporation tax revenue of $393.4 million was $8.8 million below estimate. Fiscal year-to-date corporation tax collections total $7.5 billion, which is $93.6 million, or 1.2 percent, below estimate.
Inheritance tax revenue for the month was $139.4 million, $2.9 million above estimate. This brings the fiscal-year total to $1.7 billion, which is $28.8 million, or 1.7 percent, above estimate.
Realty transfer tax revenue was $65.7 million for June, $6.8 million above estimate. This brings the fiscal-year total to $600.8 million, which is $19.6 million, or 3.4 percent, more than anticipated.
Other General Fund tax revenue, including cigarette, malt beverage, liquor and gaming taxes, totaled $178.3 million for the month, $10.6 million above estimate. This brings the fiscal-year total to $1.5 billion, which is $16.2 million, or 1.1 percent, below estimate.
Non-tax revenue totaled $85.4 million for the month, $8.1 million above estimate. This brings the year-to-date total to $1.4 billion, which is $38.7 million, or 2.8 percent, above estimate.
In addition to the General Fund collections, the Motor License Fund received $269.1 million for the month, $4.7 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 $3.1 billion, which is $107.3 million, or 3.6 percent, above estimate.