Harrisburg, PA — Pennsylvania collected $3.2 billion in General Fund revenue in May, which was $66.3 million, or 2.0 percent, less than anticipated, Revenue Secretary Pat Browne reported today. Fiscal year-to-date General Fund collections total $42.7 billion, which is $262.5 million, or 0.6 percent, above estimate.
“We’re in a very strong position 11 months through the current fiscal year, even though our collections for May came in slightly below our projections,” said Secretary Browne. “Our overall revenue collections currently stand within 1 percent of our original projections. That is a result of all the great work our research staff has done to build a dependable forecast.”
Sales tax receipts totaled $1.3 billion for May, $45.5 million above estimate. Year-to-date sales tax collections total $13.4 billion, which is $149.1 million, or 1.1 percent, more than anticipated.
Personal income tax (PIT) revenue in May was $1.2 billion, $35.2 million below estimate. This brings year-to-date PIT collections to $17.3 billion, which is $155.9 million, or 0.9 percent, above estimate.
May corporation tax revenue of $285.4 million was $87.4 million below estimate. Year-to-date corporation tax collections total $7.1 billion, which is $84.8 million, or 1.2 percent, below estimate.
Inheritance tax revenue for the month was $159.1 million, $7.1 million above estimate, bringing the year-to-date total to $1.6 billion, which is $25.9 million, or 1.6 percent, above estimate.
Realty transfer tax revenue was $59.6 million for May, $2.0 million above estimate, bringing the fiscal-year total to $535.1 million, which is $12.8 million, or 2.4 percent, more than anticipated.
Other General Fund tax revenue, including cigarette, malt beverage, liquor and gaming taxes, totaled $183.2 million for the month, $2.8 million above estimate. This brings the year-to-date total to $1.3 billion, which is $26.9 million, or 2.0 percent, below estimate.
Non-tax revenue totaled $73.4 million for the month, $1.2 million below estimate, bringing the year-to-date total to $1.3 billion, which is $30.6 million, or 2.3 percent, above estimate.
In addition to the General Fund collections, the Motor License Fund received $357.6 million for the month, $62.2 million above 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 $2.9 billion, which is $112.1 million, or 4.1 percent, above estimate.