Personal income tax (PIT) revenue in December was $962.4 million, $44.7 million below estimate. This brings year-to-date PIT collections to $5.4 billion, which is $125.9 million, or 2.3 percent, below estimate.
December corporation tax revenue of $466.7 million was $43.5 million below estimate. Year-to-date corporation tax collections total $1.3 billion, which is $100.5 million, or 7.3 percent, below estimate.
Inheritance tax revenue for the month was $84.5 million, $3.7 million above estimate, bringing the year-to-date total to $453 million, which is $10.7 million, or 2.3 percent, below estimate.
Realty transfer tax revenue was $44.9 million for December, $6.7 million below estimate, bringing the fiscal-year total to $244.2 million, which is $34.7 million, or 12.4 percent, less than anticipated.
Other General Fund tax revenue, including cigarette, other tobacco products, malt beverage, liquor and table games taxes, totaled $181.8 million for the month, $8.2 million below estimate and bringing the year-to-date total to $922.1 million, which is $16.3 million, or 1.8 percent, below estimate.
Non-tax revenue totaled $37.2 million for the month, $5.2 million above estimate, bringing the year-to-date total to $147 million, which is $54.4 million, or 58.7 percent, above estimate.
In addition to the General Fund collections, the Motor License Fund received $188 million for the month, $5.3 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 $1.3 billion, which is $13.2 million, or 1 percent, below estimate.
Media contact: Kevin Hensil, 717-787-6960
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SOURCE Pennsylvania Department of Revenue