R.I. cash collections up in Oct.

R.I. CASH COLLECTIONS totaled $360.9 million in October. / COURTESY STATE OF RHODE ISLAND
R.I. CASH COLLECTIONS totaled $360.9 million in October. / COURTESY STATE OF RHODE ISLAND

PROVIDENCE – The Rhode Island cash collections in October increased 28.4% year over year to $360.9 million, according to the R.I. Department of Revenue Monday.

Personal income tax collection totaled $112.8 million in October, a 10.3% increase year over year. Sales and use taxes totaled $104.3 million, an 11% increase year over year. Departmental receipts jumped 57.3% to $31 million.

Lottery transfer for the month was $61.7 million, an 86.3% increase that included a $30 million transfer for an advance payment for October gaming activity. Gaming activity payments lag one month from other transfers.

The state also received $28.4 million in estate and transfer taxes, compared with $3.9 million one year prior.

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General business taxes totaled $7 million, a decline from $13.6 million one year prior.

Fiscal year to date through October, the state collected $1.5 billion, a 5.9% increase year over year.

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