State Revenue Collections Up Slightly In February

Pennsylvania collected $1.7 billion in General Fund revenue in February, which was $17.3 million, or 1 percent, more than anticipated, Acting Secretary of Revenue Eileen McNulty reported Monday.

Fiscal year-to-date General Fund collections total $17.4 billion, which is $377.6 million, or 2.2 percent, above estimate.

Sales tax receipts totaled $651.4 million for February, $4.8 million below estimate. Year-to-date sales tax collections total $6.3 billion, which is $61.7 million, or 1 percent, more than anticipated.

Personal income tax revenue in February was $819.5 million, $17.4 million above estimate. This brings year-to-date PIT collections to $7.1 billion, which is $17.8 million, or 0.2 percent, above estimate.         

February corporation tax revenue of $66.1 million was $7 million above estimate. Year-to-date corporation tax collections total $1.6 billion, which is $169.6 million, or 11.7 percent, above estimate.

Inheritance tax revenue for the month was $66.1 million, $1.8 million below estimate, bringing the year-to-date total to $660.7 million, which is $79.7 million, or 13.7 percent, above estimate.

Realty transfer tax revenue was $24.8 million for February, $4.9 million above estimate, bringing the fiscal-year total to $271.9 million, which is $23.5 million, or 8 percent, less than anticipated.

Other General Fund tax revenue, including cigarette, malt beverage, liquor and table games taxes, totaled $92.8 million for the month, $8.7 million below estimate and bringing the year-to-date total to $947.3 million, which is $23.8 million, or 2.5 percent, above estimate.

Non-tax revenue totaled $21.9 million for the month, $3.4 million above estimate, bringing the year-to-date total to $500.1 million, which is $48.5 million, or 10.7 percent, above estimate.

In addition to the General Fund collections, the Motor License Fund received $306.4 million for the month, $112.3 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 $1.7 billion, which is $121.5 million, or 7.9 percent, above estimate.