Pa collects $19.9 Million less than expected
HARRISBURG â€“ Secretary of Revenue Stephen H. Stetler today reported that Pennsylvania collected $1.6 billion in General Fund revenue in August, which was $19.9 million, or 1.2 percent, less than anticipated. Fiscal year-to-date General Fund collections total $3.3 billion, which is $22 million, or 0.7 percent, below estimate.
Sales tax receipts totaled $662.7 million for August, $13.4 million below estimate. Year-to-date sales tax collections total $1.4 billion, which is $13.4 million, or 1 percent, less than anticipated.
Personal income tax (PIT) revenue in August was $683.5 million, $28.3 million below estimate. This brings year-to-date PIT collections to $1.3 billion, which is $28.4 million, or 2.1 percent, below estimate. August corporation tax revenue of $50.2 million was $3.9 million above estimate.
Year-to-date corporation tax collections total $137.9 million, which is $2.1 million, or 1.6 percent, above estimate.
Other General Fund revenue figures for the month included $59.2 million in inheritance tax, $2.6 million below estimate, bringing the year-to-date total to $122.5 million, which is $2.7 million below estimate.
Realty transfer tax was $29.1 million for August, $2.2 million below estimate, bringing the total to $58.7 million for the year, which is $2.2 million less than anticipated.
Other General Fund tax revenue, including cigarette, malt beverage and liquor taxes totaled $91.5 million for the month, $8.5 million above estimate and bringing the year-to-date total to $174 million, which is $8.4 million above estimate.
Non-tax revenue totaled $29.3 million for the month, $14.2 million above estimate, bringing the year-to-date total to $42 million, which is also $14.2 million above estimate.
In addition to the General Fund collections, the Motor License Fund received $151.5 million for the month, $23.8 million below estimate. Fiscal year-to-date collections for the fund total $471.3 million, which is $23.8 million, or 4.8 percent, below estimate.
The Gaming Fund received $64.9 million in unrestricted revenues for August. Fiscal year-to-date collections for the fund total $124.7 million. Gaming Fund receipts include taxes, fees and interest. Of the total for the month, $64.8 million was collected in state taxes for property tax relief, bringing the year-to-date total to $124.6 million.
Other gaming-related revenues collected for August included $7.6 million for the Local Share Assessment, for a net total of $9.6 million for the year; $9.5 million for the Economic Development and Tourism Fund, for a year-to-date total of $18.3 million; and $22.8 million for the Race Horse Development Fund, bringing the total for the year to $43.9 million.