HARRISBURG, PA — Pennsylvania’s General Fund revenue for May totaled $3.2 billion, falling $66.3 million or 2% below projections, according to Revenue Secretary Pat Browne. Despite the slight shortfall, the fiscal year-to-date collections remain strong at $42.7 billion, exceeding expectations by $262.5 million or 0.6%.
“We’re in a very strong position 11 months through the current fiscal year, even though our collections for May came in slightly below our projections,” said Browne. “Our overall revenue collections currently stand within 1 percent of our original projections.”
Key contributors to the General Fund included $1.3 billion in sales tax revenue, outperforming estimates by $45.5 million, and $159.1 million in inheritance tax revenue, which exceeded projections by $7.1 million. Realty transfer tax revenue also rose $2 million above forecast, bringing the fiscal year total to $535.1 million, 2.4% ahead of projections.
However, personal income tax revenue for May fell $35.2 million short, totaling $1.2 billion for the month but still $155.9 million or 0.9% above projections for the year. Corporate tax revenue experienced a more significant dip, ending the month $87.4 million below estimates and placing the year-to-date total at $7.1 billion, 1.2% under expectations.
Other General Fund tax revenues, including cigarette, malt beverage, and gaming taxes, came in at $183.2 million for May, a slight gain of $2.8 million over projections. Non-tax revenue reached $73.4 million, $1.2 million under estimate but still 2.3% ahead year-to-date.
The Motor License Fund, which finances transportation-related initiatives, received $357.6 million in May, exceeding estimates by $62.2 million and bringing its fiscal year-to-date collections to $2.9 billion, marking a 4.1% overage.
The state remains on track to close the fiscal year with revenue collections aligning closely with projections, reinforcing Pennsylvania’s sound fiscal position.
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