DOR: Feb. cash collections up 8.6%

CASH COLLECTIONS in Rhode Island totaled $181 million in February, up 8.6 percent year over year.
CASH COLLECTIONS in Rhode Island totaled $181 million in February, up 8.6 percent year over year.

PROVIDENCE – February general revenue cash collections in Rhode Island increased 8.6 percent year over year to $181 million, according to the R.I. Department of Revenue Wednesday.

  • Sales and use tax collections, which make up the bulk of GR cash collections in February totaled $79 million, up from $69.1 million in February 2017.
  • Personal income tax collections for the month declined to $28.9 million, compared with $32.1 million one year prior.
  • Departmental receipts increased 11.6 percent year over year to $15.8 million. Lottery transfer collections declined 1.1 percent to $28.1 million.
  • General business taxes increased 12.9 percent year over year to $12 million from $10.6 million.

Fiscal year-to-date, the state collected $2.4 billion in GR cash collections, a 7.7 percent increase year over year.

  • Personal income tax collections made up $866.4 million in fiscal-year-to-date collections.
  • Sales and use receipts totaled $712.5 million, an increase of 5.2 percent year over year.
  • Departmental receipt cash collections totaled $285.8 million fiscal year to date, a 1.1 percent increase year over year. Lottery Transfer cash collections remained relatively even at $208.1 million, a 0.5 percent uptick year over year.
  • General business taxes declined $10.5 million year over year to $92.2 million fiscal year to date.

Chris Bergenheim is the PBN web editor.

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