Pa. Dept. of Revenue collects $5B in December, exceeds expectations

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The Pennsylvania Department of Revenue collected $5 billion in General Fund revenue in December, $238.5 million more than expected. 

Revenue Secretary Pat Browne reported that December’s amount was 5% above the department’s expectations. The fiscal year-to-date General Fund collections total $21.5 billion, which is $238.7 million, or 1.1%, above estimate. 

“We’re in a very strong position halfway through the current fiscal year,” Browne said in a statement. “We’re seeing positive results from some of our major revenue sources, which contributed to the surplus in December General Fund collections. This is a good place for us to be with the personal income tax filing season right around the corner.”  

Secretary of the Budget Zachary Reber credited the Shapiro Administration. 

“Our revenue collections are off to another strong start this fiscal year, which continues the positive trend we’ve seen since Governor Shapiro took office,” said Reber. “The governor has prioritized sound fiscal management while launching a strong economic development strategy, contributing to a growing economy. These actions are paying off and strengthening the commonwealth’s financial future.” 

December’s sales tax receipts totaled $1.3 billion, which was $45.3 million more than anticipated. This brings year-to-date sales tax collections to $7.8 billion, which is $45.3 million, or 0.6%, above expectations. 

Personal income tax (PIT) revenue for the month was $1.6 billion, $86.6 million above estimate. Year-to-date PIT collections to $8.4 billion, which is $86.5 million, or 1%, above estimate. 

Corporation tax revenue of $981.1 million for December was $57.7 million more than expected. The year-to-date corporation tax collections total $2.3 billion, which is $57.6 million, or 2.6%, above estimate. 

December’s inheritance tax revenue for the month was $143.9 million, $9.4 million above estimate. The year-to-date total to $872.5 million, which is $9.4 million, or 1.1%, above expectations. 

Realty transfer tax revenue for the month was $66.7 million, which was $12.5 million above estimate. The fiscal-year total is $304.5 million, which is $12.5 million, or 4.3%, more than expected. 

Other General Fund tax revenue, including cigarette, malt beverage, liquor, and gaming taxes, totaled $180.7 million for December, $28.1 million above estimate. This brings the year-to-date total to $846.1 million, which is $28.5 million, or 3.5%, above estimate. 

December’s non-tax revenue totaled $703.7 million, which was $1.1 million below estimate. The year-to-date total is $1 billion, which is $1.1 million, or 0.1%, below expectations. 

Along with General Fund collections, the Motor License Fund received $229.9 million for December, which was $1.3 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 $1.6 billion, which is $3.2 million, or 0.2%, below expectations.