April PA State Revenue Down $24.8 Million From Estimates, Still Up For Year

Pennsylvania collected $3.7 billion in General Fund revenue in April, which was $24.8 million, or 0.7 percent, less than anticipated, Secretary of Revenue Eileen McNulty reported Monday.

Fiscal year-to-date General Fund collections total $25.9 billion, which is $122.6 million, or 0.5 percent, above estimate.

Sales tax receipts totaled $842.2 million for April, $21.5 million below estimate. Year-to-date sales tax collections total $8.1 billion, which is $6.3 million, or 0.1 percent, more than anticipated.

Personal income tax revenue in April was $1.9 billion, $85 million below estimate. This brings year-to-date PIT collections to $10.5 billion, which is $106.5 million, or 1 percent, below estimate.

April corporation tax revenue of $481.9 million was $33.3 million above estimate. Year-to-date corporation tax collections total $4.5 billion, which is $105.8 million, or 2.4 percent, above estimate.

Inheritance tax revenue for the month was $67.2 million, $11.3 million below estimate, bringing the year-to-date total to $769.6 million, which is $20 million, or 2.7 percent, above estimate.

Realty transfer tax revenue was $32.8 million for April, $3.8 million below estimate, bringing the fiscal-year total to $389.2 million, which is $1.5 million, or 0.4 percent, more than anticipated.

Other General Fund tax revenue, including cigarette, malt beverage, liquor and table games taxes, totaled $119.1 million for the month, $500,000 above estimate and bringing the year-to-date total to $1.1 billion, which is $3.3 million, or 0.3 percent, below estimate.

Non-tax revenue totaled $234.8 million for the month, $62.9 million above estimate, bringing the year-to-date total to $574.5 million, which is $98.8 million, or 20.8 percent, above estimate.

In addition to the General Fund collections, the Motor License Fund received $220.4 million for the month, $27.2 million below 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 $2.2 billion, which is $38 million, or 1.7 percent, below estimate.