Pennsylvania Revenue Hits $5.7 Billion in April

FundsImage by Michael Kin

PENNSYLVANIA — Pennsylvania collected $5.7 billion in General Fund revenue in April, which was $51.1 million, or 0.9 percent, more than anticipated, announced Acting Revenue Secretary Pat Browne. Fiscal year-to-date General Fund collections total $37.9 billion, which is $1.2 billion, or 3.3 percent, above estimate.

Sales tax receipts totaled $1.2 billion for April, $43.1 million above estimate. Year-to-date sales tax collections total $11.7 billion, which is $227.6 million, or 2.0 percent, more than anticipated.

Personal income tax (PIT) revenue in April was $2.9 billion, $322.0 million below estimate. This brings year-to-date PIT collections to $14.9 billion, which is $406.4 million, or 2.7 percent, below estimate.

April corporation tax revenue of $992.1 million was $261.3 million above estimate. Year-to-date corporation tax collections total $7.2 billion, which is $1.1 billion, or 18.7 percent, above estimate.

Inheritance tax revenue for the month was $118.7 million, $5.5 million above estimate, bringing the year-to-date total to $1.3 billion, which is $36.4 million, or 3.0 percent, above estimate.

Realty transfer tax revenue was $41.9 million for April, $21.8 million below estimate, bringing the fiscal-year total to $528.9 million, which is $95.4 million, or 15.3 percent, less than anticipated.

Other General Fund tax revenue, including cigarette, malt beverage, liquor and gaming taxes, totaled $61.9 million for the month, $18.5 million above estimate. This brings the year-to-date total to $1.4 billion, which is $12.6 million, or 0.9 percent, above estimate.

Non-tax revenue totaled $310.0 million for the month, $66.4 million above estimate, bringing the year-to-date total to $986.2 million, which is $286.8 million, or 41.0 percent, above estimate.

In addition to the General Fund collections, the Motor License Fund received $291.0 million for the month, $4.5 million below 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 $2.4 billion, which is $66.0 million, or 2.8 percent, above estimate.

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