DOR: July cash collections total $438.3M, up 3.8%

RHODE ISLAND general revenue cash collections in July totaled $438.3 million.
RHODE ISLAND general revenue cash collections in July totaled $438.3 million.

PROVIDENCE – July cash collections totaled $438.3 million, the R.I. Department of Revenue announced Tuesday, a 3.8 percent increase year over year from $422.1 million, or a $16.2 million upswing.

Personal income tax collections totaled $95.1 million, compared with $83 million in July 2017, a difference of $12.1 million year over year.

Sales and use tax collections totaled $101.3 million in July, an 11.4 percent increase, or $10.3 million, year over year.

Departmental receipts for the month totaled $183 million, a 13.3 percent increase year over year from $161.5 million in July 2017, largely due to a $19.7 million upswing in licenses and fees collection to $179.2 million.

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The DOR also noted the total July cash collections reflected $31 million in a lottery transfer that is typically done in August, thus representing a $31 million increase in July compared with $0 the previous year.

Estate and transfer tax collections declined 96.3 percent year over year in July to $2.2 million from $59 million.

General business tax collections declined $3.5 million year over year to $9.5 million.

Note: July is the first month of the 2019 fiscal year, so all of the above figures are also 2019 year-to-date figures.

Chris Bergenheim is the PBN web editor. He may be reached at Bergenheim@PBN.com.