HARRISBURG, PA — Pennsylvania concluded its 2024-25 fiscal year with $46.4 billion in General Fund collections, surpassing expectations by $321 million, or 0.7 percent, according to Revenue Secretary Pat Browne.
Secretary Browne described the surplus as a sign of the state’s strong financial health, crediting a conservative and well-calibrated forecast that kept final collections within one percent of original projections.
Sales tax collections reached $14.7 billion for the fiscal year, exceeding estimates by 1.1 percent. Personal income tax revenue followed suit, totaling $19 billion — $186.2 million, or 1 percent, above forecast.
Inheritance tax revenue also outperformed, finishing at $1.7 billion, 1.7 percent higher than projected. Realty transfer tax collections rose to $600.8 million, surpassing expectations by 3.4 percent.
Despite strong overall performance, corporate tax collections fell slightly short, totaling $7.5 billion, or 1.2 percent below estimate. Other General Fund tax revenues, including cigarette and liquor taxes, ended the year at $1.5 billion, coming in 1.1 percent under projections.
Non-tax revenue contributed an additional $1.4 billion, outperforming estimates by 2.8 percent.
Meanwhile, the Motor License Fund collected $3.1 billion for the year, 3.6 percent above forecast, despite a slight dip in June collections.
Pennsylvania’s surplus positions the Commonwealth for continued fiscal stability and investment in public services as economic pressures persist.
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