DOR: Cash collections fall in February, rise FYTD

CASH COLLECTIONS declined 0.7 percent in February, to $179.3 million, fueled by a 22.1 percent drop in personal income tax revenue collections, the state Department of Revenue said. / COURTESY R.I. DEPARTMENT OF REVENUE
CASH COLLECTIONS declined 0.7 percent in February, to $179.3 million, fueled by a 22.1 percent drop in personal income tax revenue collections, the state Department of Revenue said. / COURTESY R.I. DEPARTMENT OF REVENUE

PROVIDENCE – Cash collections decreased year over year in February by 0.7 percent, to $179.3 million from $180.6 million, the state Department of Revenue said this week.
Among the revenue categories, lottery transfer increased 14.4 percent, to $33.5 million from $29.3 million, but personal income tax fell 22.1 percent, to $27.6 million from $35.4 million.
The state agency said lottery transfer revenue rose despite increased gaming competition in Massachusetts. It said the “relatively mild winter weather” likely contributed to the increase.
As for the decline in personal income tax year over year, the state agency said it was driven largely by an increase of $14.2 million in personal income tax refunds.
Fiscal year to date, cash collections increased 2.3 percent, to $2.2 billion from $2.1 billion, which R.I. Department of Revenue Director Robert S. Hull described as “strong.”
Lottery transfer fell 1.6 percent fiscal year to date, to $214.1 million from $217.6 million during the year-ago period. The state blamed the drop on competition from Massachusetts gaming.

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