09/03/2024 | Press release | Distributed by Public on 09/03/2024 17:25
09/03/2024
βHarrisburg, PA - Pennsylvania collected $2.9 billion in General Fund revenue in August, which was $53.9 million, or 1.9 percent, more than anticipated, Revenue Secretary Pat Browne reported today. Fiscal year-to-date General Fund collections total $5.9 billion, which is $53.9 million, or 0.9 percent, above estimate.
Sales tax receipts totaled $1.2 billion for August, $5.6 million above estimate. Year-to-date sales tax collections total $2.5 billion, which is $5.6 million, or 0.2 percent, more than anticipated.
Personal income tax (PIT) revenue in August was $1.1 billion, $20.4 million below estimate. This brings year-to-date PIT collections to $2.3 billion, which is $20.3 million, or 0.9 percent, below estimate.
August corporation tax revenue of $117.3 million was $11.0 million below estimate. Year-to-date corporation tax collections total $333.6 million, which is $11.0 million, or 3.2 percent, below estimate.
Inheritance tax revenue for the month was $184.9 million, $44.7 million above estimate, bringing the year-to-date total to $313.6 million, which is $44.7 million, or 16.6 percent, above estimate.
Realty transfer tax revenue was $66.0 million for August, $3.2 million above estimate, bringing the fiscal-year total to $62.9 million, which is $3.2 million, or 5.3 percent, more than anticipated.
Other General Fund tax revenue, including cigarette, malt beverage, liquor and gaming taxes, totaled $157.9 million for the month, $5.4 million above estimate. This brings the year-to-date total to $243.3 million, which is $5.4 million, or 2.3 percent, above estimate.
Non-tax revenue totaled $100.8 million for the month, $26.3 million above estimate, bringing the year-to-date total to $181.0 million, which is $26.2 million, or 16.9 percent, above estimate.
In addition to the General Fund collections, the Motor License Fund received $301.9 million for the month, $47.7 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 $559.9 million, which is $47.6 million, or 9.3 percent, above estimate.β
Media Contact: Jeffrey Johnson, [email protected]