The Department of Revenue Friday reported total tax collections of $2.2 billion in November exceeded estimates by $47.2 million, or 0.4 percent. Fiscal year-to-date, General Fund revenue collections total $11.4 billion, which is $26.1 million, or 0.2 percent, above estimate.
Sales tax receipts totaled $837.4 million for November, $23.6 million above estimate. Year-to-date sales tax collections total $4.3 billion, which is $23.6 million, or 0.6 percent, more than anticipated.
Personal income tax revenue in November was $918.2 million, $10.5 million above estimate. This brings year-to-date PIT collections to $4.7 billion, which is $10.4 million, or 0.2 percent, above estimate.
November corporation tax revenue of $103.3 million was $9 million above estimate. Year-to-date corporation tax collections total $812.9 million, which is $8.8 million, or 1.1 percent, above estimate.
Inheritance tax revenue for November was $87.8 million, $6.5 million above estimate, bringing the year-to-date total to $404.5 million, which is $6.6 million, or 1.6 percent, above estimate.
Realty transfer tax revenue was $44.5 million for November, $2.6 million above estimate, bringing the fiscal-year total to $220.8 million, which is $2.6 million, or 1.2 percent, more than anticipated.
Other General Fund tax revenue, including cigarette, malt beverage, liquor and gaming taxes, totaled $167.5 million for the month, $4.4 million below estimate and bringing the year-to-date total to $780.1 million, which is $4.7 million, or 0.6 percent, below estimate.
Non-tax revenue totaled $146.9 million for the month, $21.2 million below estimate, bringing the year-to-date total to $224.3 million, which is $21.2 million, or 8.6 percent, below estimate.
In addition to the General Fund collections, the Motor License Fund received $262.5 million for the month, $24.3 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 $1.3 billion, which is $24 million, or 1.9 percent, above estimate.
