R.I. Aug. cash collections total $289.5M, bolstered by tax filing and payment extensions

RHODE ISLAND cash collections in August totaled $289.5 million. / COURTESY R.I. DEPARTMENT OF REVENUE

PROVIDENCE – Rhode Island cash collections in August totaled $289.5 million, an increase of 4% year over year, according to the R.I. Department of Revenue Thursday.

Collections of personal income tax totaled $101.3 million, a 5.7% rise from one year prior.

DOR said that the increase does not necessarily reflect an increase in cash receipts, as figures were inflated by the extension of filing and payment deadlines from April to July.

“For several cash items, such as the sales and use tax, the August cash collections reflect taxable sales activity in July,” the report noted. “For others, such as the personal income tax, the FY 2021 cash collections reflect changes in the timing of the receipt of cash payments due to the extension of filing and payment deadlines from April 15, 2020, to July 15, 2020.”

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  • Sales and use tax collections totaled $116.1 million, an increase from $109.6 million in August 2019.
  • General business tax collection in August totaled $12.1 million, a 27.7% increase year over year.
  • Departmental receipts totaled $14.7 million, a 6.3% increase year over year.

The DOR said that lottery transfer revenue declined 26.4% year over year to $22.7 million.

Fiscal year to date in August, collections totaled $923 million, a 34.1% increase from collections at that time one year prior.

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