DOR: Revenue misses expectations in July

During July, the first month of fiscal 2017, total general revenue was 0.6 percent, or $1.4 million, less than expected, the state Department of Revenue said. / COURTESY R.I. DEPARTMENT OF REVENUE
During July, the first month of fiscal 2017, total general revenue was 0.6 percent, or $1.4 million, less than expected, the state Department of Revenue said. / COURTESY R.I. DEPARTMENT OF REVENUE

PROVIDENCE – During the first month of fiscal 2017, total general revenue was 0.6 percent less than expected, the state Department of Revenue said Wednesday.
Revenue fell $1.4 million to $213.8 million in July. Revenue was expected to reach $215.2 million in July based on revenue estimates enacted in the fiscal 2017 budget and the Office of Revenue Analysis’ estimation methodology, the DOR said.

Revenue from personal income tax and departmental receipts exceeded expectations by 1.9 percent and 4 percent, respectively, while sales and use tax, and all other general revenue fell 2.9 percent and 2.1 percent.
Revenue from lottery transfer was zero because the collection is not accounted for until August, the DOR said.

R.I. Director of Revenue Robert S. Hull said cigarette tax revenue was $1.5 million below expectations, a decline of 12.3 percent; it was $11 million while $12.6 million was expected. Alcohol tax revenue grew 5.4 percent in July to $2 million from the expected $1.9 million.

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