Pennsylvania collected $2.6 billion in General Fund revenue in January, which was $49.8 million, or 1.8 percent, less than anticipated, Secretary of Revenue Eileen McNulty reported Wednesday.
Fiscal year-to-date General Fund collections total $16.1 billion, which is $416.8 million, or 2.5 percent, below estimate.
Sales tax receipts totaled $913.5 million for January, $5.1 million below estimate. Year-to-date sales tax collections total $5.9 billion, which is $138.4 million, or 2.3 percent, less than anticipated.
Personal income tax (PIT) revenue in January was $1.3 billion, $27.3 million above estimate. This brings year-to-date PIT collections to $6.7 billion, which is $98.6 million, or 1.4 percent, below estimate.
January corporation tax revenue of $104.5 million was $60.4 million below estimate. Year-to-date corporation tax collections total $1.4 billion, which is $160.9 million, or 10.5 percent, below estimate.
Inheritance tax revenue for the month was $77.1 million, $1.7 million above estimate, bringing the year-to-date total to $530.1 million, which is $9 million, or 1.7 percent, below estimate.
Realty transfer tax revenue was $37.7 million for January, $9.9 million below estimate, bringing the fiscal-year total to $281.9 million, which is $44.6 million, or 13.6 percent, less than anticipated.
Other General Fund tax revenue, including cigarette, other tobacco products, malt beverage, liquor and table games taxes, totaled $146.9 million for the month, $5 million above estimate and bringing the year-to-date total to $1.1 billion, which is $11.3 million, or 1.1 percent, below estimate.
Non-tax revenue totaled $73.4 million for the month, $8.5 million below estimate, bringing the year-to-date total to $220.4 million, which is $45.9 million, or 26.3 percent, above estimate.
In addition to the General Fund collections, the Motor License Fund received $214.5 million for the month, $1.6 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 $1.5 billion, which is $11.6 million, or 0.8 percent, below estimate.
