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R.I. Department of Revenue releases March 2016 1.0% Meals and Beverage 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 March 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 the report as noted by Director of Revenue Robert S. Hull were Month-to-month increase in local 1.0 percent meal and beverage tax collections was 17.5 percent, below the 21.6 percent growth rate recorded between March 2015 and February 2015; Year-over-year increase in local 1.0 percent meal and beverage tax collections for March 2016 was strong at 11.3 percent, nearly 3 times the 3.3 percent growth rate posted for March 2015 over March 2014; Year-to-date FY 2016 local 1.0 percent meal and beverage tax collections through March were 8.7 percent more than the same period last fiscal year and 220 basis points more than the year-to-date over year-to-date growth rate of 6.5 percent recorded for FY 2015 through March.

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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