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R.I. Department of Revenue releases October 2016 local meals and beverage collections report

Providence, R.I. -- The Rhode Island Department of Revenue today released its FY 2017 Local 1.0 Percent Meal and Beverage Tax Collections Report for October 2016. The Local 1.0 Percent Meal and Beverage Tax Collections Report 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. The data contained in the report is for the month in which the meal and beverage sales activity occurred. The receipts generated from this activity were paid to the Division of Taxation the month following the sales activity and distributed to the municipalities the month after receipt by the Division of Taxation.

Highlights from the report as noted by Director of Revenue Robert S. Hull were Month-to-month decrease in local 1.0 percent meal and beverage tax collections at 17.1 percent was much worse than the 3.6 percent month-to-month growth recorded in October 2015; Year-over-year decrease in local 1.0 percent meal and beverage tax collections for October 2016 was concerning at 8.9 percent nearly the mirror opposite of the 8.1 percent year-over-year growth rate realized in October of FY 2016; The fiscal year-to-date through October growth of 2.8 percent is anemic and nearly two-thirds less than the fiscal year-to-date through October growth of 7.3 percent recorded in FY 2016.

The entire report can be found on the Department of Revenue's web site at http://www.dor.ri.gov/revenue-analysis/2017.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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