Harrisburg, Pa. -- The state's General Fund is the predominant fund which is used to finance state government operations. The Pa. Department of Revenue released information which outlined that Pa. had collected $2.8 billion in General Fund revenue in October, which was $159.9 million, or 6.0 percent more than anticipated, according to Revenue Secretary Dan Hassell.
Hassell said that fiscal year-to-date General Fund collections total $12.1 billion, which is $788.2 million, or 7.0 percent above estimates.
Sales tax receipts totaled $1.2 billion for October, $51.8 million above estimate. Year-to-date sales tax collections total $4.7 billion, which is $194.1 million, or 4.4 percent more than anticipated.
Personal income tax (PIT) revenue in October was $1.1 billion, $45.8 million above estimate. This brings year-to-date PIT collections to $4.6 billion, which is $210.7 million, or 4.8 percent above estimate.
According to the state, October corporation tax revenue of $166.0 million was $33.0 million above estimate. Year-to-date corporation tax collections total $1.4 billion, which is $290.4 million, or 27.0 percent above estimate.
Inheritance tax revenue for the month was $119.6 million, $4.3 million above estimate, bringing the year-to-date total to $490.2 million, which is $17.1 million, or 3.6 percent above estimate; and Realty transfer tax revenue was $62.0 million for October, $6.1 million below estimate, bringing the fiscal-year total to $243.9 million, which is $10.2 million, or 4.4 percent more than anticipated.
Other General Fund tax revenue, including cigarette, malt beverage, liquor and gaming taxes, totaled $163.3 million for the month, $13.1 million above estimate and bringing the year-to-date total to $653.4 million, which is $29.4 million, or 4.7 percent above estimate.
Non-tax revenue totaled $37.0 million for the month, $18.0 million above estimate, bringing the year-to-date total to $122.8 million, which is $36.3 million, or 42.0 percent above estimate.
The Revenue Department said that in addition to the General Fund collections, the Motor License Fund received $230.8 million for the month, $19.9 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 $960.6 million, which is $42.4 million, or 4.6 percent above estimate.