PROVIDENCE – Collection of the 1 percent meal and beverage tax in Rhode Island increased 21.7 percent in January to $2.07 million from $1.7 million one year prior, according to the R.I. Department of Revenue Thursday.
Collections of the 1 percent meal and beverage tax are paid to the R.I. Division of Taxation the month following collections and distributed to the municipalities one month after receipt by the division.
Providence accounted for the largest allocation of the tax in January with $511,991. The Creative Capital also accounted for the largest year-over-year meal and beverage tax upswing in the state, rising $168,081.
South Kingstown experienced the largest decline of 1 percent meal and beverage tax, falling $19,809 year over year to $58,551.
Fiscal year to date in January, collections of the 1 percent meal and beverage tax increased 12.5 percent, a $1.9 million increase to $17.3 million.
Providence also accounted for the largest fiscal-year-to-date collection of the 1 percent meal and beverage tax in January with $3.6 million, an upswing of $655,280 in fiscal-year-to-date collections year over year. East Greenwich experienced the largest nominal decrease in collections fiscal year to date, falling $128,048 to $405,498.
Chris Bergenheim is the PBN web editor.