DOR: Hotel tax collections rise in May, meal and beverage tax collections grow in June

ONE PERCENT hotel tax revenue grew 19.3 percent year over year in May to $415,164, and 14.4 percent fiscal year over fiscal year to $3.5 million. / COURTESY R.I. DEPARTMENT OF REVENUE
ONE PERCENT hotel tax revenue grew 19.3 percent year over year in May to $415,164, and 14.4 percent fiscal year over fiscal year to $3.5 million. / COURTESY R.I. DEPARTMENT OF REVENUE

PROVIDENCE – One percent hotel tax collections grew 19.3 percent year over year in May, and 14.4 percent during the first 11 months of the fiscal year compared with the same fiscal period a year prior, the state Department of Revenue said this week.
Hotel tax collections grew to $415,164 in May, and to $3.5 million for the fiscal period through May, the state agency said. The 1 percent hotel tax is collected on the rental of rooms and remitted to the municipality in which the room rental was located.
The state agency also released its 5 percent hotel tax collection report for May, showing a 19.3 percent increase over the year to $2.1 million, and a 13 percent fiscal year over fiscal year to $17.2 million.
This tax is distributed according to a formula to regional tourism districts, municipalities, R.I. Commerce Corp. and the Providence Warwick Convention & Visitors Bureau.
Regional tourism districts saw a nearly 7 percent increase over the year in May in their allocation to $748,668, and a 9.2 percent increase fiscal year over fiscal year to $6.7 million. Municipalities received a 13 percent increase over the year in hotel tax revenue to $459,056 in May, and a 12.5 percent increase fiscal year over fiscal year to $4 million.
Commerce RI received $4.1 million through the first 11 months of the fiscal year; due to a change in the formula, it did not receive funding during the prior fiscal period. The PWCVB saw a 4 percent increase in revenue over the year to $235,805, and a nearly 8 percent increase fiscal year over fiscal year to $2.1 million.
In other news, 1 percent meal and beverage tax collections rose 4.7 percent year over year in June to $2.4 million, and 7.5 percent fiscal year over fiscal year through June to $25.7 million.

More details about the DOR reports can be found HERE.

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