August 1, 2016

July State Revenue Collections Down $163M Compared To 2015, $274M To 2014

Pennsylvania collected $2 billion in General Fund revenue in July, the first month of the 2016-17 fiscal year, Secretary of Revenue Eileen McNulty reported Monday.
In each of the last two years, state revenues in July were $2.135 billion in 2015 and $2.246 billion in 2014, according to the Independent Fiscal Office.
Sales tax receipts totaled $892.3 million; personal income tax (PIT) revenue in July was $760.4 million; and corporation tax revenue was $66.4 million for July.
General Fund revenue figures for July included $77.1 million in inheritance tax and $32.6 million in realty transfer tax.
Other General Fund revenue, including cigarette, malt beverage and liquor and table games taxes totaled $105.5 million for the month.
Non-tax revenue totaled $38.5 million for the month.
In addition to the General Fund collections, the Motor License Fund received $211.4 million for the month, which includes the commonly known gas and diesel taxes, as well as other license, fine and fee revenues.
As in years past, July collection data does not include a comparison against anticipated amounts because revenue estimates for each month are not yet finalized. The August collections release will include comparisons of collections to estimates.