R.I. cash collections rise 17.3% Y/Y in October

RHODE ISLAND cash collections rose 17.3% year over year in October to $327.7 million. / COURTESY R.I. DEPARTMENT OF REVENUE

PROVIDENCE – Cash collections in Rhode Island in October totaled $327.7 million, a 17.3% increase from $279.4 million one year prior, the R.I. Department of Revenue said Tuesday.

  • Personal income tax collections totaled $104 million for the month, an increase from $90.9 million one year prior.
  • Sales and use tax collections totaled $129.3 million, an increase from $11.3 million in October 2020.
  • Departmental receipts totaled $23.1 million, a decline from $23.2 million one year prior.
  • Lottery transfer revenue totaled $35.4 million in October, an increase from $25.1 million one year prior.
  • General business tax collection totaled $16.5 million, an increase from $10.9 million one year prior.

In the first four months of the fiscal year, cash collections totaled $1.59 billion, a decline from $1.62 billion one year prior. The decline was attributed to the extension of the tax year 2019 tax filing and payment deadlines from April 15 and June 15, 2020 to July 15, 2020 for personal income and nearly all business taxes. Accounting for the delay in filings, year-to-date cash collections were said to have risen 12.3% year over year, according to the Department of Revenue.

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