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Tag: Motor License Fund

Pa. revenue increased more than $51 million in April

Pennsylvania’s revenue for April increased $51.1 million to $5.7 billion, Acting Revenue Secretary Pat Browne reported Monday. 

The amount was 0.9% above estimate. Fiscal year-to-date General Fund collections total $37.9 billion, which is $1.2 billion or 3.3% more than anticipated. 

Sales tax receipts totaled $1.2 billion for the month, $43.1 million above estimate. Year-to-date sales tax collections total $11.7 billion, which is $227.6 million, or 2.0%, more than anticipated. 

April’s personal income tax (PIT) revenue was $2.9 billion, $322.0 million below estimate. This brings year-to-date PIT collections to $14.9 billion, which is $406.4 million, or 2.7%, below what was anticipated.

The corporation tax revenue of $992.1 million for the month was $261.3 million above estimate. Year-to-date corporation tax collections total $7.2 billion, which is $1.1 billion, or 18.7%, above expectations.

April’s inheritance tax revenue totaled $118.7 million, $5.5 million more than anticipated, bringing the year-to-date total to $1.3 billion, which is $36.4 million, or 3.0%, above estimate.

Realty transfer tax revenue was $41.9 million for the month, $21.8 million below estimate, bringing the fiscal-year total to $528.9 million, which is $95.4 million, or 15.3%, less than expected.

Other General Fund tax revenue, including cigarette, malt beverage, liquor and gaming taxes, totaled $61.9 million for April, $18.5 million more than expected. This brings the year-to-date total to $1.4 billion, which is $12.6 million, or 0.9%, above estimate.

The non-tax revenue for the month totaled $310 million, $66.4 million more than expected, bringing the year-to-date total to $986.2 million, which is $286.8 million, or 41%, above estimate.

Along with General Fund collections, the Motor License Fund received $291 million for April, which was $4.5 million below 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 $2.4 billion, which is $66 million, or 2.8%, more than anticipated. 

Pennsylvania’s General Fund revenue shows pluses, minuses in collections

Pennsylvania’s General Fund revenue in January was less than expected, but the good news is the state’s fiscal year-to-date General Fund collections are above estimate. 

Acting Revenue Secretary Pat Browne reported Thursday that Pennsylvania in January collected $3.6 billion in General Fund revenue, a total that was $205.6 million below what was anticipated. Browne also reported that the fiscal year-to-date collections totaling $23.3 billion are $297.5 million more than estimated. 

Sales tax receipts were higher than anticipated in both January and in fiscal year-to-date figures. January saw sales tax receipts reach $1.3 billion, $11.6 million over estimate.  Fiscal year-to-date sales tax collections climbed to $8.4 billion, $146.4 million more than expected. 

Revenue for personal income tax (PIT) was below expectations in January and for year-to-date (YTD). PIT for January was $1.3billion, $243.7 million below expectations, while PIT for YTD was $9.2 billion, $216.6 million lower than anticipated. 

Corporation tax revenue for January reached $223.4 million, $13.8 million more than expected, and YTD’s corporation tax total $3 billion also exceeds expectations, $342.4 million above estimate. 

January’s inheritance tax revenue was $125.9 million, $4 million above estimate, while YTD is $851.6 million, which is $12.3 million, below estimate. 

Realty transfer tax revenue was down for both the month and YTD. Its January total of $55.5 million is $17.1 million below estimate, bringing the fiscal-year total to $407.4 million, which is $43.8 million less than anticipated. 

Additional General Fund tax revenue, which includes cigarette, malt beverage, liquor, and gaming taxes, totaled $129.0 million for January, $0.2 million above estimate. The YTD total is $1.1 billion, which is $32.3 million, below expectations. 

January’s non-tax revenue totaled $37.9 million, $25.7 million above estimate, and it brings the YTD total to $384.6 million, which is $113.7 million above estimate. 

Along with General Fund collections, the Motor License Fund received $222.2 million for the month, which stands $2.1 million below estimate. Fiscal YTD collections for the fund – which include gas and diesel taxes, as well as other license, fine and fee revenues – total $1.6 billion, which is $22.8 million more than expected.

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