Pa. reports higher-than-expected October General Fund revenues

Harrisburg, Pa. — Pa. Revenue Secretary Pat Browne has reported 1.7% higher-than-expected General Fund revenue in the month of October.

The total collected was $3.4 billion, with the fiscal year-to-date collection amounting to $13.5 billion, which is higher than previously forecasted by about $77.3 million, or .6%.

Sales tax receipts totaled $1.3 billion in October — $22.2 million above the estimate. This brings the year-to-date sales tax revenue to $4.9 billion.

Personal income tax revenue for October was $1.5 billion, $33.2 million above the forecasted amount. The year-to-date total is $5.4 billion — $21.8 million below the expected amount.

October's corporation tax revenue was $169.6 million, making it $33.7 million below the estimated revenue. Year-to-date corporation tax collections total $1.5 billion, which is $13.6 million below the expected amount.

Inheritance tax revenue for the month was $144.2 million, $1.9 million below estimate, bringing the year-to-date total to $583.2 million, which is $30.1 million, or 5.4%, above estimate.

Realty transfer tax revenue was $59.7 million for October, $2.2 million above estimate, bringing the fiscal-year total to $175.7 million, which is $6.3 million, or 3.7%, more than anticipated.

Other General Fund tax revenue, including cigarette, malt beverage, liquor and gaming taxes, totaled $143.4 million for the month, $1.9 million below estimate. This brings the year-to-date total to $523.9 million, which is one million above estimate.

Non-tax revenue totaled $108.8 million for the month, $37.0 million above estimate, bringing the year-to-date total to $365.1 million, which is $63.3 million, or 21%, above estimate.

In addition to the General Fund collections, the Motor License Fund received $233.9 million for the month, $4.4 million above estimate. Fiscal year-to-date collections for the fund — which include gas and diesel taxes, as well as other license, fine, and fee revenues — total $1.0 billion, which is $47.4 million, or 4.8%, above estimate.