Harrisburg, PA — Pennsylvania collected $3.9 billion in General Fund revenue in January, which was $51.3 million, or 1.3 percent, less than anticipated, Revenue Secretary Pat Browne reported today. Fiscal year-to-date General Fund collections total $24.1 billion, which is $148.3 million, or 0.6 percent, below estimate.
“Our goal is typically to be within 2 percent of our projections, so our overall collections are right on target more than halfway through the current fiscal year,” said Secretary Browne. “Looking a bit deeper, it’s important to acknowledge that our collections from all our major revenue sources are also very close to our projections.”
Sales tax receipts totaled $1.3 billion for January, $1.9 million above estimate. Year-to-date sales tax collections total $8.7 billion, which is $21.7 million, or 0.3 percent, more than anticipated.
Personal income tax (PIT) revenue in January was $2.0 billion, $51.7 million below estimate. This brings year-to-date PIT collections to $9.7 billion, which is $151.3 million, or 1.5 percent, below estimate.
January corporation tax revenue of $276.6 million was $15.6 million, above estimate. Year-to-date corporation tax collections total $2.8 billion, which is $24.3 million, or 0.8 percent, below estimate.
Inheritance tax revenue for the month was $133.8 million, $2.6 million below estimate. This brings the year-to-date total to $973.4 million, which is $3.1 million, or 0.3 percent, above estimate.
Realty transfer tax revenue was $52.5 million for January, $2.8 million below estimate, bringing the fiscal-year total to $338.0 million. This is $9.8 million, or 3.0 percent, more than anticipated.
Other General Fund tax revenue, including cigarette, malt beverage, liquor and gaming taxes, totaled $114.9 million for the month, $7.5 million below estimate. This brings the year-to-date total to $962.1 million, which is $4.1 million, or 0.4 percent, below estimate.
Non-tax revenue totaled $44.8 million for the month, $4.1 million below estimate, bringing the year-to-date total to $580.8 million, which is $3.3 million, or 0.6 percent, below estimate.
In addition to the General Fund collections, the Motor License Fund received $250.2 million for the month, $20.1 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 $1.8 billion, which is $76.1 million, or 4.5 percent, above estimate.