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State Revenue Department releases data for October 2018 collections

 

November 6, 2018



Pennsylvania collected $2.5 billion in General Fund revenue in October, which was $28.3 million, or 1.2 percent, more than anticipated, Revenue Secretary Dan Hassell reported. Fiscal year-to-date General Fund collections total $10 billion, which is $238 million, or 2.4 percent, above estimate.

Since the start of the 2018-19 fiscal year, overall tax revenue is $893.2 million, or 9.9 percent, more than was collected in the same period of the last fiscal year.

Sales tax receipts totaled $959.4 million for October, $26.8 million above estimate. Year-to-date sales tax collections total $3.8 billion, which is $94.5 million, or 2.6 percent, more than anticipated.

Personal income tax (PIT) revenue in October was $1.1 billion, $5.4 million below estimate. This brings year-to-date PIT collections to $4.1 billion, which is $40.8 million, or 1 percent, below estimate.

October corporation tax revenue of $111.2 million was $10.5 million above estimate. Year-to-date corporation tax collections total $941.5 million, which is $179.8 million, or 23.6 percent, above estimate.

Inheritance tax revenue for the month was $90.3 million, $3.1 million above estimate, bringing the year-to-date total to $348.9 million, which is $9.1 million, or 2.7 percent, above estimate.

Realty transfer tax revenue was $51 million for October, $0.2 million above estimate, bringing the fiscal-year total to $182.4 million, which is $4 million, or 2.1 percent, less than anticipated.

Other General Fund tax revenue, including cigarette, malt beverage, liquor and gaming taxes, totaled $144.5 million for the month, $18.4 million below estimate and bringing the year-to-date total to $592.1 million, which is $20.5 million, or 3.5 percent, below estimate.

Non-tax revenue totaled $29.7 million for the month, $11.4 million above estimate, bringing the year-to-date total to $104 million, which is $19.9 million, or 23.7 percent, above estimate.

In addition to the General Fund collections, the Motor License Fund received $205 million for the month, $23.8 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 $915.8 million, which is $35.9 million, or 3.8 percent, below estimate.

 

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