PROVIDENCE – August cash collections in Rhode Island totaled $269.9 million, a 0.2 percent increase from one year prior, according to the R.I. Department of Revenue Tuesday.
Personal income tax collections declined $11 million year over year to $92.3 million for the month. Sales and use tax collections increased $4.7 million to $100.3 million.
General business tax collections in August increased $3.1 million to total $8 million.
Departmental receipts collections totaled $13.8 million, an 8.1 percent decline from $15.1 million in August 2017. Lottery transfer collections totaled $33.1 million, a 5.4 percent increase from $31.4 million one year prior.
Fiscal year 2019 fiscal-year-to-date collections in August totaled $708.2 million, a 2.4 percent increase from $691.3 million collected fiscal year to date in August 2017. The fiscal-year-to-date increase can largely be attributed to a $32.7 million increase in lottery transfers (to a total of $64.1 million), a $20.3 million increase in departmental receipt collections (to a total of $196.8 million) and a $15.1 million increase in sales and use tax collections (to a total of $201.6 million).
The year-over-year increase in fiscal-year-to-date collections was offset by a significant decline in estate and transfer tax collections, which declined $55.8 million year over year to $4.3 million.
Chris Bergenheim is the PBN web editor. Email him at Bergenheim@PBN.com.