PROVIDENCE – Cash collections for fiscal 2017 were $3.7 billion, only slighter more than in fiscal 2016, according to the R.I. Department of Revenue Wednesday.
June general revenue cash collection increased 8.1 percent year over year, rising $39.9 million to $530.3 million.
Fiscal year 2017 collections – $3.7 billion:
- Fiscal 2017 collections increased $1.6 million year over year, which amounts to a negligible (0.05 percent) change.
- 2017 personal income tax collections declined 0.3 percent compared with fiscal 2016 to $1.23 billion, a decline of $3.5 million year over year.
- Sales and use tax collections increased 2.5 percent year over year in fiscal 2017 to $997.5 million.
- Departmental receipts collection for fiscal 2017 totaled $371.4 million, increasing 4.3 percent from fiscal 2016.
- Lottery transfer in fiscal 2017 was $362.2 million, a 2 percent year-over-year decrease.
Of lottery transfer revenue, “Twin River traditional table games” increased the largest nominal amount for the fiscal year, $1.7 million to $16.8 million. The largest percentage increase came from Twin River poker tables, which saw tax revenue increase 84.2 percent to $994,581. The largest nominal decrease for fiscal 2017 from fiscal 2016 was “traditional games,” which declined 12.1 percent year over year, a $5.2 million fall to $37.5 million.
- Revenue from unclaimed property transfer for the 2017 fiscal year totaled $12.7 million, a decline of 10.2 percent.
- The report showed that $4.1 million in funds were accounted for in departmental receipts from various settlements reached by the R.I. Office of the Attorney General.
- “All other revenues” collections fell over the year by 3.8 percent to $689.2 million.
June 2017 Collections- $530.3 million (8.1 percent increase year over year):
- Personal income tax collections in June rose $17.7 million, or 16.1 percent, from June 2016 to $128.1 million.
- Sales and use tax collection rose $3.8 million, 4.4 percent, year over year to $89.6 million in June.
- Departmental receipts revenue fell 2.9 percent year over year for June, a decline of $1.1 million to $37.8 million.
- Lottery transfer in June declined 1.3 percent year over year to $60.2 million.
- “All other revenues” collected in June increased 10.5 percent year over year to $214.6 million.
Chris Bergenheim is the PBN web editor.
