HARRISBURG, PA — Pennsylvania collected $3.0 billion in General Fund revenue in February, falling $35.0 million, or 1.2 percent, short of projections, according to the state Department of Revenue.
What This Means For You
- February state tax collections came in slightly below projections.
- Overall revenue for the fiscal year remains about $381.9 million above estimates.
- Major tax filing deadlines in March and April could influence upcoming revenue totals.
Despite the February shortfall, fiscal year-to-date General Fund collections total $28.4 billion, or $381.9 million above the state’s official estimate.
Revenue Secretary Pat Browne said upcoming corporate and personal income tax deadlines could strengthen revenue totals in the coming months.
“We are nearly $400 million above our overall projections for the current fiscal year, despite February collections coming in slightly under estimate,” Browne said. “We’re anticipating positive results in the coming months — especially in March and April when major due dates fall for corporate taxpayers and personal income tax filers.”
Sales And Income Taxes
Sales tax collections totaled $1.1 billion in February, which was $25.5 million below the state’s estimate.
However, fiscal year-to-date sales tax revenue stands at $10.2 billion, about $14.7 million above projections.
Personal income tax revenue reached $1.3 billion for the month, exceeding estimates by $13.1 million.
So far this fiscal year, personal income tax collections total $11.6 billion, which is $186.6 million above estimate.
Corporate And Inheritance Taxes
Corporate tax collections totaled $192.7 million in February, falling $28.1 million short of expectations.
For the fiscal year, corporate tax revenue totals $2.7 billion, slightly above projections by $3.8 million.
Inheritance tax collections brought in $132.4 million during February, which was $6.2 million below estimate.
Year-to-date inheritance tax revenue totals $1.2 billion, or $58.4 million above projections.
Other State Revenues
Realty transfer tax collections totaled $46.0 million in February, exceeding projections by $3.0 million.
Other tax revenue — including cigarette, malt beverage, liquor, and gaming taxes — generated $126.2 million for the month, slightly below estimate.
Non-tax revenue totaled $44.7 million, exceeding projections by $10.4 million.
Motor License Fund
Pennsylvania’s Motor License Fund, which supports transportation infrastructure and includes revenue from gas and diesel taxes as well as licensing and fees, collected $239.8 million in February.
That total was $12.5 million below estimate for the month.
Fiscal year-to-date collections for the fund total $2.1 billion, which is $15.4 million above estimate.
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