Harrisburg, PA — Pennsylvania collected $2.9 billion in General Fund revenue in February, which was $44.0 million, or 1.6 percent, more than anticipated, Revenue Secretary Pat Browne reported today. Fiscal year-to-date General Fund collections total $27.0 billion, which is $104.3 million, or 0.4 percent, below estimate.
“Collections from all of our major revenue sources are nearly right on target, and that is a big reason why our overall collections are so close to our projections,” said Secretary Browne. “Our goal is typically to be within 2 percent of our estimate, so we’re in a very good place with four months to go in the current fiscal year.”
Sales tax receipts totaled $1.1 billion for February, $33.5 million above estimate. Year-to-date sales tax collections total $9.7 billion, which is $55.2 million, or 0.6 percent, more than anticipated.
Personal income tax (PIT) revenue in February was $1.2 billion, $10.4 million above estimate. This brings year-to-date PIT collections to $11.0 billion, which is $141.0 million, or 1.3 percent, below estimate.
February corporation tax revenue of $199.1 million was $11.8 million below estimate. Year-to-date corporation tax collections total $3.0 billion, which is $36.0 million, or 1.2 percent, below estimate.
Inheritance tax revenue for the month was $159.3 million, $17.9 million above estimate, bringing the year-to-date total to $1.1 billion, which is $21.1 million, or 1.9 percent, above estimate.
Realty transfer tax revenue was $38.2 million for February, $0.1 million below estimate, bringing the fiscal-year total to $376.2 million, which is $9.7 million, or 2.6 percent, more than anticipated.
Other General Fund tax revenue, including cigarette, malt beverage, liquor and gaming taxes, totaled $130.1 million for the month, $8.4 million below estimate. This brings the year-to-date total to $1.1 billion, which is $12.4 million, or 1.1 percent, below estimate.
Non-tax revenue totaled $53.8 million for the month, $2.4 million above estimate, bringing the year-to-date total to $634.7 million, which is $0.8 million, or 0.1 percent, below estimate.
In addition to the General Fund collections, the Motor License Fund received $269.8 million for the month, $23.4 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 $2.0 billion, which is $99.4 million, or 5.1 percent, above estimate.