Pennsylvania collected $2.2 billion in General Fund revenue in October, which was $102.8 million, or 4.8 percent, more than anticipated, Secretary of Revenue Dan Meuser reported Monday. Fiscal year-to-date General Fund collections total $8.9 billion, which is $103.4 million, or 1.2 percent, above estimate.
Sales tax receipts totaled $819.5 million for October, $18.9 million above estimate. Year-to-date sales tax collections total $3.2 billion, which is $44.4 million, or 1.4 percent, more than anticipated.
Personal income tax revenue in October was $928.1 million, $7.7 million below estimate. This brings year-to-date PIT collections to $3.5 billion, which is $12.1 million, or 0.3 percent, below estimate.
October corporation tax revenue of $138.2 million was $3.8 million below estimate. Year-to-date corporation tax collections total $804.7 million, which is $83.1 million, or 11.5 percent, above estimate.
Inheritance tax revenue for the month was $171.6 million, $90 million above estimate, bringing the year-to-date total to $384.2 million, which is $80.2 million, or 26.4 percent, above estimate.
Realty transfer tax revenue was $36.9 million for October, $4.1 million below estimate, bringing the fiscal-year total to $150.6 million, which is $17.6 million, or 10.5 percent, less than anticipated.
Other General Fund tax revenue, including cigarette, malt beverage, liquor and table games taxes, totaled $115.9 million for the month, $4.2 million below estimate and bringing the year-to-date total to $464.6 million, which is $5 million, or 1.1 percent, below estimate.
Non-tax revenue totaled $31.5 million for the month, $13.7 million above estimate, bringing the year-to-date total to $311.2 million, which is $69.7 million, or 18.3 percent, below estimate.
In addition to the General Fund collections, the Motor License Fund received $142 million for the month, $45 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 $792.2 million, which is $3.2 million, or 0.4 percent, above estimate.
