PA Department of Revenue collects $48 Billion

PA

Pennsylvania ended the 2021-22 fiscal year with $48.1 billion in General Fund collections, Revenue Secretary Dan Hassell reported on Friday. That total is $5.6 billion, or 13.2 percent, above estimate.

Breakdown of where the state revenue came from

Sales tax receipts totaled $1.2 billion for June, $95.6 million above estimate. Fiscal year-to-date sales tax collections total $13.9 billion, which is $1.1 billion, or 8.7 percent, more than anticipated.

Personal income tax (PIT) revenue in June was $1.6 billion, $179.8 million above estimate. This brings fiscal-year total PIT collections to $18.1 billion, which is $2.4 billion, or 14.9 percent, above estimate.

June corporation tax revenue of $972.0 million was $406.0 million above estimate. Fiscal year-to-date corporation tax collections total $7.3 billion, which is $1.7 billion, or 29.2 percent, above estimate.

Inheritance tax revenue for the month was $121.6 million, $13.2 million above estimate, bringing the fiscal-year total to $1.6 billion, which is $173.0 million, or 12.6 percent, above estimate.

Realty transfer tax revenue was $76.0 million for June, $10.3 million above estimate, bringing the fiscal-year total to $847.1 million, which is $164.2 million, or 24.0 percent, more than anticipated.

Other General Fund tax revenue, including cigarette, malt beverage, liquor and gaming taxes, totaled $178.4 million for the month, $4.6 million above estimate and bringing the fiscal-year total to $1.7 billion, which is $21.1 million, or 1.2 percent, above estimate.

Non-tax revenue totaled $38.0 million for the month, $4.3 million above estimate, bringing the year-to-date total to $4.6 billion, which is $117.2 million, or 2.6 percent, above estimate.

In addition to the General Fund collections, the Motor License Fund received $253.2 million for the month, $7.1 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 $2.9 billion, which is $37.4 million, or 1.3 percent, above estimate.

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