DOR: 5% hotel tax collections increased in February, fiscal YTD

THE R.I. DEPARTMENT OF REVENUE said 5 percent hotel tax collections increased 11.3 percent year over year in February, and 11 percent when comparing the first eight months of the fiscal year with the prior fiscal period. / COURTESY R.I. DEPARTMENT OF REVENUE
THE R.I. DEPARTMENT OF REVENUE said 5 percent hotel tax collections increased 11.3 percent year over year in February, and 11 percent when comparing the first eight months of the fiscal year with the prior fiscal period. / COURTESY R.I. DEPARTMENT OF REVENUE

PROVIDENCE – Five percent hotel tax collections increased 11.3 percent year over year in February, and 11 percent when comparing the first eight months of the fiscal year with the same prior fiscal period.
The R.I. Department of Revenue released the 5 percent hotel tax allocation report on Wednesday, showing total collections of $774,288 in February compared with $695,893 in February 2015.
The 5 percent hotel tax is collected on the rental of rooms in the state and distributed based on a formula to regional tourism districts, municipalities, R.I. Commerce Corp., and the Providence Warwick Convention & Visitors Bureau.
Regional tourism districts received the largest share of 5 percent hotel tax collections in February at $263,938, an increase of 1.1 percent over the year, while municipalities received $177,613, an 11.3 percent gain. Commerce RI received $222,278 – due to a change in the formula, it did not receive funding in February 2015. The Providence Warwick Convention & Visitors Bureau received $110,460, a 1.8 percent increase.
Fiscal year to date through February, collections totaled $12.8 million compared with $11.6 million during the same fiscal 2015 period.

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