For the first time in two years, monthly tax receipts for the Pennsylvania General Fund were higher than budget officials anticipated. The Department of Revenue reports that for August the state collected $1.8 billion in General Fund revenues, $7.1 million, or 0.4 percent, more than anticipated. Fiscal year-to-date General Fund collections total $3.5 billion, which is $6 million, or 0.2 percent, above estimate.
Last fiscal year, weak revenue collections resulted in a $1.2 billion shortfall when the fiscal year ended on June 30, 2010.
In August Sales tax receipts totaled $700.9 million, $34.5 million above estimate. Year-to-date sales tax collections total $1.5 billion, $34.5 million, or 2.4 percent, more than anticipated.
Personal income tax (PIT) revenue in August was $650.9 million, $12.3 million below estimate. This brings year-to-date PIT collections to $1.3 billion, which is $12.4 million, or 1 percent, below estimate.
August corporation tax revenue of $42.1 million was $0.8 million below estimate. Year-to-date corporation tax collections total $101.4 million, which is $1.8 million, or 1.7 percent, below estimate.
Other General Fund revenue figures for the month included $66.9 million in inheritance tax, matching the estimate and bringing the year-to-date total to $130.7 million, which is $100,000 above estimate.
Realty transfer tax was $23.3 million for August, $13.8 million below estimate, bringing the total to $58.4 million for the year, which is $13.9 million less than anticipated.
Other General Fund tax revenue, including cigarette, malt beverage, liquor and table games taxes totaled $127.2 million for the month, $1.5 million above estimate and bringing the year-to-date total to $235 million, which is $1.5 million above estimate.
Non-tax revenue totaled $195.1 million for the month, $2 million below estimate, bringing the year-todate total to $227.9 million, which is $2 million below estimate.
In addition to the General Fund collections, the Motor License Fund received $192.8 million for the month, $36.8 million above estimate. Fiscal year-to-date collections for the fund total $437.2 million, which is $37.2 million, or 9.3 percent, above estimate.