On August 1, the Department of Revenue announced Pennsylvania collected $2.3 billion in General Fund revenue in July, the first month of the 2019-20 fiscal year, which was 4.1 percent-- $90.8 million-- better than in July 2018.
The tax revenue sources with the largest increase from the prior year include corporate net income tax, personal income tax and inheritance tax. Sales and use tax and realty transfer tax declined due to new or expanded transfers.
Revenues by tax or category--
-- Sales tax receipts totaled $925.4 million in July.
-- Personal income tax (PIT) revenue in July was $1 billion.
-- Corporation tax revenue was $116.9 million for July.
-- General Fund revenue figures for July included $98.5 million in inheritance tax and $21.1 million in realty transfer tax.
-- Other General Fund tax revenue, including cigarette, malt beverage, liquor and gaming taxes totaled $110.4 million for the month.
-- Non-tax revenue totaled $34 million for the month.
In addition to the General Fund collections, the Motor License Fund received $223 million for the month, which includes the commonly known gas and diesel taxes, as well as 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.
Click Here for the monthly Revenue and Economic Update from the Independent Fiscal Office.
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