August State Revenue Collections $17.8 Million Less Than Anticipated

Pennsylvania collected $1.8 billion in General Fund revenue in August, which was $17.8 million, or 1 percent, less than anticipated, Secretary of Revenue Daniel Meuser reported Tuesday.  

Fiscal year-to-date General Fund collections total $4 billion, which is $10.7 million, or 0.3 percent, below estimate.

Total revenues in August were about the same as in 2013-- $1.8 billion, but there were more General Fund collections than last year-- $3.7 billion.

Sales tax receipts totaled $789.8 million for August, $5 million above estimate. Year-to-date sales tax collections total $1.7 billion, which is $5 million, or 0.3 percent, more than anticipated.

Personal income tax revenue in August was $711.2 million, $2 million below estimate. This brings year-to-date PIT collections to $1.5 billion, which is $2 million, or 0.1 percent, below estimate.    

August corporation tax revenue of $45.8 million was $7.6 million below estimate. Year-to-date corporation tax collections total $126.6 million, which is $6.9 million, or 5.2 percent, below estimate.

Inheritance tax revenue for the month was $66.3 million, $300,000 below estimate, bringing the year-to-date total to $142.3 million, which is $300,000, or 0.2 percent, below estimate.

Realty transfer tax revenue was $36 million for August, $6.7 million below estimate, bringing the fiscal-year total to $77.5 million, which is $6.6 million, or 7.9 percent, less than anticipated.

Other General Fund tax revenue, including cigarette, malt beverage, liquor and table games taxes, totaled $126.3 million for the month, $900,000 below estimate and bringing the year-to-date total to $224.9 million, which is $800,000, or 0.4 percent, below estimate.

Non-tax revenue totaled $15.8 million for the month, $5.4 million below estimate, bringing the year-to-date total to $267.4 million, which is $1 million, or 0.4 percent, above estimate.

In addition to the General Fund collections, the Motor License Fund received $178.4 million for the month, $28.1 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 $422.1 million, which is $28.3 million, or 7.2 percent, above estimate.

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