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R.I. Department of Revenue releases January 2016 Meals and Beverage collections report

Providence, R.I. --The Rhode Island Department of Revenue released its FY 2015 Local 1.0 Percent Meal and Beverage Tax Collections Report for January 2016 today. The Local 1.0 Percent Meal and Beverage Tax Collections Report, which is issued on a monthly basis, compares the collections from the state's local 1.0 percent meal and beverage tax on a month-to-month, year-over-year, and fiscal year-to-date over fiscal year-to-date basis. The local 1.0 percent meal and beverage tax is collected on the sale of a meal and/or beverage that is prepared away from home and the amount of tax collected is remitted, in full, to the municipality in which the meal and/or beverage is consumed.

Highlights from January 2016 Local 1.0 Percent Meal and Beverage Tax Collections Report as noted by Director of Revenue Robert S. Hull were: Month-to-month decline in local 1.0 percent meal and beverage tax collections was 12.7 percent, in line with the 12.2 percent decline recorded between January 2015 and December 2014; Year-over-year increase in local 1.0 percent meal and beverage tax collections for January 2016 was robust at 7.5 percent, more than double the 3.6 percent increase recorded for January 2015 over January 2014; Year-to-date FY 2016 local 1.0 percent meal and beverage tax collections through January was 7.7 percent more than the same period last fiscal year and slightly ahead of the year-to-date over year-to-date growth rate of 7.3 percent recorded for FY 2015 through January.

The entire report can be found on the Department of Revenue's web site at http://www.dor.ri.gov/revenue-analysis/2016.php under the Local Reports tab. The full report includes the break down by municipality of local meal and beverage tax collections on a month-to-month, year-over-year, and fiscal year-to-date over fiscal year-to-date basis.

Questions or comments on the report should be directed to Paul Grimaldi, Chief of Information and Public Relations by e-mail at paul.grimaldi@revenue.ri.gov or by phone at (401) 574-8766.

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