PROVIDENCE – April cash collections totaled $483.5 million in Rhode Island, a 22.2% increase year over year, according to the R.I. Department of Revenue Friday.
- Personal income tax collection for the month increased 30.2% year over year to $228.9 million
- General business taxes collections totaled $103.3 million in April, a 46.5% increase year over year
- Sales and use tax collection increased 9.7% year over year to $92.9 million
- Departmental receipts declined 7% year over year to $25.3 million
- Lottery transfer collections (reflecting March gambling) totaled $17.5 million, an 18.6% increase year over year, including $710,333 from sports betting
Fiscal year to date in April, collections totaled $3.3 billion, a 7.8% increase year over year. The increase included a collection of $354.1 million in general business taxes, a 65.4% increase from collections for fiscal 2019 through April compared with the same prior year numbers. Personal income tax collections increased 3.3% fiscal year to date to $1.2 billion. Also contributing was a 6.5% increase in sales and use taxes year over year to $926.1 million and a 9.1% increase in fiscal-year-to-date departmental receipts at $358.9 million through April.
Lottery transfer fiscal year to date increased 17.5% from April 2018 to $320 million, including $623,901 in sports betting (Note: sports betting lost money in February).
Chris Bergenheim is the PBN web editor. You may reach him at Bergenheim@PBN.com.
