PROVIDENCE – December cash collections in Rhode Island increased 14.6 percent year over year to $364.9 million, a $46.5 million increase, according to the R.I. Department of Revenue Wednesday.
Personal income tax collection in December totaled $130.7 million, a 17.2 percent decline from $157.9 million one year prior. The DOR noted that $4.7 million in income tax collection in December 2017 was related to the 2017 tax amnesty program.
Sales and use tax for the month totaled $87.9 million, an 8.1 percent increase from $81.3 million one year prior.
Departmental receipts increased 63.9 percent year over year in December to $22.8 million from $13.9 million, largely due to a $9.5 million increase in licenses and fees to a total of $20 million.
General business taxes totaled $72.3 million for the month, a $50.5 million increase year over year, including a $21.3 million increase in public utilities gross earnings, an $18.9 million increase in insurance company collections and an $11.6 million increase in business corporation tax collections.
Lottery transfer for December was $33.5 million, a 19.7 percent increase year over year from $28 million. The lottery transfer, which reflects November gaming activity, included $21,600 from sports betting, which started on Nov. 26.
Fiscal year to date in December, collections totaled $2 billion, an 8.3 percent increase year over year from $1.9 billion, driven by a $122.2 million increase in general business taxes to a total of $191.5 million; a $33 million increase in sales and use tax for a total of $572.3 million; and a $31.7 million increase in licenses and fee collections to a total of $243.3 million. The gains were offset by a $10.8 million decline in personal income taxes fiscal year to date in December to $665.5 million and a $58.1 million decline in estate and transfer collections to $25.1 million.