Pennsylvania collected $2.2 billion in General Fund revenue in January, which was $10.4 million, or 0.5 percent, less than anticipated, Secretary of Revenue Daniel Meuser reported Wednesday.
Fiscal year-to-date General Fund collections total $13.8 billion, which is $497.2 million, or 3.5 percent, below estimate.
Sales tax receipts totaled $807.5 million for January, $65.5 million above estimate. Year-to-date sales tax collections total $5.2 billion, which is $ 42.2 million, or 0.8 percent, more than anticipated.
Personal income tax revenue in January was $1.1 billion, $45.6 million below estimate. This brings year-to-date PIT collections to $5.7 billion, which is $211.5 million, or 3.6 percent, below estimate.
January corporation tax revenue of $96.1 million was $27.4 million below estimate. Year-to-date corporation tax collections total $1.3 billion, which is $286.7 million, or 18 percent, below estimate.
Inheritance tax revenue for the month was $69.5 million, $6.7 million above estimate, bringing the year-to-date total to $460.7 million, which is $11.3 million, or 2.4 percent, below estimate.
Realty transfer tax revenue was $22.9 million for January, $52,000 above estimate, bringing the fiscal-year total to $175.5 million, which is $9.8 million, or 5.3 percent, less than anticipated.
Other General Fund tax revenue, including cigarette, malt beverage, liquor and table games taxes, totaled $95.1 million for the month, $2.9 million below estimate and bringing the year-to-date total to $873.4 million, which is $7.2 million, or 0.8 percent, above estimate.
Non-tax revenue totaled $20.5 million for the month, $6.6 million below estimate, bringing the year-to-date total to $132.7 million, which is $27.3 million, or 17.1 percent, below estimate.
In addition to the General Fund collections, the Motor License Fund received $232.2 million for the month, $7.1 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 $1.4 billion, which is $2.7 million, or 0.2 percent, above estimate.
