Personal income tax (PIT) revenue in June was $1.3 billion, $51.5 million below estimate. This brings year-to-date PIT collections to $12.5 billion, which is $201.9 million, or 1.6 percent, below estimate.
June corporation tax revenue of $561.4 million was $16.2 million above estimate. Year-to-date corporation tax collections total $5.1 billion, which is $101.9 million, or 2 percent, above estimate.
Inheritance tax revenue for the month was $110 million, $8 million above estimate, bringing the year-to-date total to $962.2 million, which is $34.7 million, or 3.7 percent, above estimate.
Realty transfer tax revenue was $54.6 million for June, $3 million above estimate, bringing the fiscal-year total to $481.7 million, which is $3.6 million, or 0.8 percent, more than anticipated.
Other General Fund tax revenue, including cigarette, malt beverage, liquor and table games taxes, totaled $127.2 million for the month, $2.8 million above estimate and bringing the year-to-date total to $1.4 billion, which is $18.6 million, or 1.4 percent, above estimate.
Non-tax revenue totaled $29.7 million for the month, $700,000 below estimate, bringing the year-to-date total to $643.8 million, which is $102.5 million, or 18.9 percent, above estimate.
In addition to the General Fund collections, the Motor License Fund received $245.2 million for the month, $11.2 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 $2.7 billion, which is $22.6 million, or 0.8 percent, below estimate.
The 2015-16 fiscal year General Fund revenue collections reported above are preliminary, pending a final revenue deposit and year-end adjustments.
Media contact: Kevin Hensil, 717-787-6960
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SOURCE Pennsylvania Department of Revenue