August State Revenue Collections 3.4 Percent Less Than Anticipated

Pennsylvania collected $1.8 billion in General Fund revenue in August, which was $63.1 million, or 3.4 percent, less than anticipated, the Department of Revenue reported Thursday.
            Fiscal year-to-date General Fund collections total $3.5 billion, which is $63.1 million, or 1.8 percent, below estimate.
            Sales tax receipts totaled $734.9 million for August, $15.7 million below estimate. Year-to-date sales tax collections total $1.5 billion, which is $15.7 million, or 1.1 percent, less than anticipated.
Personal income tax revenue in August was $749.9 million, $55.2 million below estimate. This brings year-to-date PIT collections to $1.4 billion, which is $55.1 million, or 3.8 percent, below estimate.
            August corporation tax revenue of $59.9 million was $3.7 million above estimate. Year-to-date corporation tax collections total $137.9 million, which is $3.4 million, or 2.6 percent, above estimate.
Inheritance tax revenue for the month was $69.5 million, $5.1 million below estimate, bringing the year-to-date total to $135.8 million, which is $5.1 million, or 3.6 percent, below estimate.
            Realty transfer tax revenue was $28 million for August, $4.5 million below estimate, bringing the fiscal-year total to $55.7 million, which is $4.5 million, or 7.5 percent, less than anticipated.
            Other General Fund tax revenue, including cigarette, malt beverage, liquor and table games taxes, totaled $129.9 million for the month; $2.1 million above estimate and bringing the year-to-date total to $243.2 million, which is $2.2 million, or 0.9 percent, above estimate.
            Non-tax revenue totaled $33.8 million for the month, $11.6 million above estimate, which brings the year-to-date total to $60.9 million, which is $11.6 million, or 23.7 percent, above estimate.
            In addition to the General Fund collections, the Motor License Fund received $237.6 million for the month, $19.3 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 $428.7 million, which is $19.2 million, or 4.7 percent, above estimate.