Pennsylvania sees strong revenue numbers in September

(The Center Square) – Pennsylvania Revenue Secretary Dan Hassell reported that the state collected $4 billion in general fund revenue in September, which was $495.9 million, or 14.1%, more than expected.

The general fund fiscal year-to-date collections are at $9.3 billion, 7.3% above the estimate.

September sales tax receipts totaled $1.1 billion, $93 million above estimate, with year-to-date collections 4.3% above estimate.

Personal income tax for the month was $97.8 million above estimate at $1.5 billion. Total year-to-date personal income tax collections are 5% more than anticipated.

Corporation tax revenue for September was reported at $898.2 million, $233.7 million above estimate. Year-to-date corporation tax collections total $1.2 billion, 27.3% above estimate.

Inheritance tax for the month was $143.4 million, $25.4 million above estimate, bringing the year-to-date total to $370.6 million, which was 3.6% above estimate.

Revenue from the realty transfer tax, other general fund tax, and non-tax revenue were all above the anticipated amount.

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