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State collects $3B in General Fund revenue in July
Listen to this articlePennsylvania collected $3 billion in General Fund revenue in July, the first month of the 2024-25 fiscal year, Secretary of Revenue Pat Browne reported Thursday.
Sales tax receipts totaled $1.3 billion, personal income tax (PIT) revenue was $1.2 billion, and corporate tax revenue was $216.4 million, the Revenue Department said.
General Fund revenue figures for July included $128.7 million in inheritance tax and -$3.1 million in realty transfer tax (RTT). RTT collections for the month are negative due to an increase in the transfer to the Housing Affordability and Rehabilitation Enhancement Fund (from $60 million in July 2023 to $70 million in July 2024), the department said.
Other General Fund tax revenue, including cigarette, malt beverage, liquor and gaming taxes, totaled $85.4 million for the month. The department said non-tax revenue totaled $80.2 million for the month.
In addition to the General Fund collections, the department said the Motor License Fund received $257.9 million for the month, which includes the commonly known gas and diesel taxes, and other license, fine, and fee revenues.
July collection data does not include a comparison against anticipated amounts because revenue estimates for each month are not yet finalized.
