Pennsylvania General Fund pulls in $102.8 million more than expected in October

Pennsylvania Secretary of Revenue Dan Meuser
Pennsylvania Secretary of Revenue Dan Meuser | Courtesy of Paindependent.com

The State of Pennsylvania is $102.8 million ahead of where it had originally forecast for the month of October, and Secretary of Revenue Dan Meuser is very happy.

Pennsylvania collected $2.2 billion in General Fund revenue last month, nearly $103 million more than anticipated.

In 2014, General Fund collections have totaled $8.9 billion, which is $103.4 million above what was estimated to be brought in during the fiscal year.

Sales tax receipts were $18.9 million above estimated October forecasts, while year-to-date sales tax collections total $3.2 billion, which is $44.4 million more than anticipated. Personal income tax (PIT) revenue last month had a $928.1 million shortfall. October’s corporation tax revenue total of $138.2 million was $3.8 million below estimates. Inheritance tax revenue for October was $90 million above estimates, and realty transfer tax revenue was $4.1 million below the estimated amount.

Other General Fund tax revenue, including cigarette taxes, malt beverage taxes, liquor taxes and table games taxes, totaled $115.9 million for October, $4.2 million below the estimated amount. Non-tax revenue amounted to $31.5 million for the month, $13.7 million above estimates.

Additionally, the Motor License Fund brought in just $142 million for the month – a whopping $45 million below the estimated total.

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State of Pennsylvania

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