Harrisburg, PA — Pennsylvania collected $3.2 billion in General Fund revenue in October, which was $119.8 million, or 3.8 percent, more than anticipated, Revenue Secretary Pat Browne reported today. Fiscal year-to-date General Fund collections total $13.1 billion, which is $47.5 million, or 0.4 percent, below estimate. This amount is within the range (2 percent) the Department of Revenue strives for with its year-to-date revenue forecasts.
Sales tax receipts totaled $1.3 billion for October, $9.5 million below estimate. Year-to-date sales tax collections total $4.9 billion, which is $105.8 million, or 2.1 percent, less than anticipated. Personal consumption expenditures have been lower than anticipated fiscal year to date, with particular weakness in purchases made at Building Material and Supplies Dealers.
Personal income tax (PIT) revenue in October was $1.3 billion, $35.7 million above estimate. This brings year-to-date PIT collections to $5.1 billion, which is $77.0 million, or 1.5 percent, below estimate.
October corporation tax revenue of $228.5 million was $37.0 million above estimate. Year-to-date corporation tax collections total $1.6 billion, which is $69.5 million, or 4.7 percent, above estimate.
Inheritance tax revenue for the month was $171.1 million, $57.9 million above estimate, bringing the year-to-date total to $537.9 million, which is $61.4 million, or 12.9 percent, above estimate. Inheritance tax collections in October were boosted by the receipt of several extraordinary payments.
Realty transfer tax revenue was $52.1 million for October, $1.5 million above estimate, bringing the fiscal-year total to $159.8 million, which is $13.9 million, or 8.0 percent, less than anticipated.
Other General Fund tax revenue, including cigarette, malt beverage, liquor and gaming taxes, totaled $149.4 million for the month, $3.9 million below estimate. This brings the year-to-date total to $543.2 million, which is $29.6 million, or 5.2 percent, below estimate.
Non-tax revenue totaled $63.4 million for the month, $1.2 million above estimate, bringing the year-to-date total to $325.9 million, which is $47.9 million, or 17.2 percent, above estimate.
In addition to the General Fund collections, the Motor License Fund received $240.2 million for the month, $1.9 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 $1.1 billion, which is $4.2 million, or 0.4 percent, below estimate.
These collections will be discussed in more detail when the Department issues its October Monthly Revenue Report in the near future.
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