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Pennsylvania Secretary of Revenue Pat Browne reported that the commonwealth collected $3 billion in General Fund revenue in July. PHOTO/FILE
Pa. Revenue Fund reports drop in December
Ed Gruver//January 3, 2025//
Listen to this articleRevenue Secretary Pat Browne reported that Pennsylvania‘s $3.8 billion in General Fund revenue in December was $87.2 million below estimate. Fiscal year-to-date General Fund collections total of $20.2 billion are $97.1 million less than expected.
“Six months into the current fiscal year, our revenue collections are nearly right on our estimate,” Browne said in a statement. “Our goal is typically to be within 2 percent of our projections, so we are in a very strong position heading into the second half of the fiscal year.”
December’s sales tax receipts totaled $1.2 billion, $6.0 million below estimate. However, year-to-date sales tax collections total $7.3 billion, $19.8 million above expectations.
The month’s personal income tax revenue was $1.3 billion, $36.6 million below estimate. Year-to-date PIT collections are $7.8 billion, $99.6 million less than anticipated.
Corporation tax revenue of $882.5 million for December was $29.7 million more than expected. Year-to-date corporation tax collections total $2.6 billion, which is $39.8 million less than expected.
December’s inheritance tax revenue was $129.0 million, $31.0 million below estimate. Year-to-date total to $839.6 million, which is $5.7 million higher than estimated.
Realty transfer tax revenue for the month was $50.5 million, $3.4 million below estimate. The fiscal-year total of $285.5 million is $12.6 million more than expected.
Other General Fund tax revenue, including cigarette, malt beverage, liquor and gaming taxes, totaled $167.4 million for December, $3.2 million higher than expected. The year-to-date total of $847.3 million is $3.5 million more than estimated.
Non-tax revenue totaled $32.9 million for the month, $43.0 million below estimate, bringing the year-to-date total to $536.0 million, which is $0.8 million, or 0.2 percent, above estimate.
In addition to General Fund collections, the Motor License Fund received $211.7 million for December, which was $1.5 million less than estimated. Fiscal year-to-date collections for the fund total $1.5 billion, $56.0 million above expectations.
