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While Pennsylvania lawmakers are still working to hammer out a new budget, state Revenue Secretary Dan Hassell said the 2021-22 fiscal year ended with $48.1 billion in General Fund collections.
The fiscal year ended June 30 with no state spending plan in place.
The General Fund collections total is 5.6 billion, or 13.2%, above the state’s estimate, Hassell said in a statement.
Below is an overview of June revenue collections and final collections for the fiscal year:
Sales tax receipts totaled $1.2 billion for June, $95.6 million above estimate. Fiscal year-to-date sales tax collections total $13.9 billion, which is $1.1 billion, or 8.7%, more than anticipated.
Personal income tax (PIT) revenue in June was $1.6 billion, $179.8 million above estimate. This brings fiscal-year total PIT collections to $18.1 billion, which is $2.4 billion, or 14.9%, above estimate.
June corporation tax revenue of $972.0 million was $406.0 million above estimate. Fiscal year-to-date corporation tax collections total $7.3 billion, which is $1.7 billion, or 29.2%, above estimate.
Inheritance tax revenue for the month was $121.6 million, $13.2 million above estimate, bringing the fiscal-year total to $1.6 billion, which is $173.0 million, or 12.6%, above estimate.
Realty transfer tax revenue was $76.0 million for June, $10.3 million above estimate, bringing the fiscal-year total to $847.1 million, which is $164.2 million, or 24%, more than anticipated.
Other General Fund tax revenue, including cigarette, malt beverage, liquor and gaming taxes, totaled $178.4 million for the month, $4.6 million above estimate and bringing the fiscal-year total to $1.7 billion, which is $21.1 million, or 1.2%, above estimate.
Non-tax revenue totaled $38.0 million for the month, $4.3 million above estimate, bringing the year-to-date total to $4.6 billion, which is $117.2 million, or 2.6%, above estimate.
In addition to the General Fund collections, the Motor License Fund received $253.2 million for the month, $7.1 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 $2.9 billion, which is $37.4 million, or 1.3%, above estimate.
The Wolf administration and top Republican lawmakers worked through Thursday’s deadline to work out a roughly $42 billion spending plan, according to WWHY.org.
Without new budget legislation, the state will lose the authority to make some payments, although a stalemate must last several weeks before any effect on services is felt, the organization said.