September State Revenues 8.3% $248.7 Million More Than Anticipated; Up $459 Million For Fiscal Year

On October 1, the Department of Revenue reported Pennsylvania collected $3.3 billion in General Fund revenue in September, which was $248.7 million, or 8.3 percent, more than anticipated. 

Fiscal year-to-date General Fund collections total $9.9 billion, which is $459 million, or 4.9 percent, above estimate.

Revenue collections are ahead of estimate to this point due to better than expected economic activity through the first quarter of the fiscal year. The department will continue to closely monitor the situation so that the Governor and members of the General Assembly have the latest information as it becomes available.

The Independent Fiscal Office reported September state revenue were 11.9 percent-- $347.3 million-- higher than IFO estimates.  Fiscal year-to-date revenues up 8.1 percent-- $739.6 million.  Read more here.

Below is a full overview of September revenues by tax type from the Department of Revenue.

Sales tax receipts totaled $996.5 million for September, $90.7 million above estimate. Year-to-date sales tax collections total $3.3 billion, which is $183.4 million, or 5.9 percent, more than anticipated.

Personal income tax (PIT) revenue in September was $1.3 billion, $19.5 million above estimate. This brings year-to-date PIT collections to $4.5 billion, which is $62.4 million, or 1.4 percent, above estimate.

September corporation tax revenue of $597.3 million was $104.5 million above estimate. Year-to-date corporation tax collections total $1.1 billion, which is $132.7 million, or 13.2 percent, above estimate.

Inheritance tax revenue for the month was $98.1 million, $28.5 million above estimate, bringing the year-to-date total to $308.5 million, which is $34.3 million, or 12.5 percent, above estimate.

Realty transfer tax revenue was $53.4 million for September, $18.8 million above estimate, bringing the fiscal-year total to $127.8 million, which is $33.1 million, or 34.9 percent, more than anticipated.

Other General Fund tax revenue, including cigarette, malt beverage, liquor and gaming taxes, totaled $163.7 million for the month, $21.8 million above estimate and bringing the year-to-date total to $478 million, which is $53.7 million, or 12.7 percent, above estimate.

Non-tax revenue totaled $19.6 million for the month, $35 million below estimate, bringing the year-to-date total to $54.4 million, which is $40.5 million, or 42.7 percent, below estimate.

In addition to the General Fund collections, the Motor License Fund received $216.7 million for the month, $6.1 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 $770 million, which is $0.3 million, or 0.0 percent, above estimate.