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Local meal, beverage tax collections continue to outpace FY2017

Providence, R.I. -- The Rhode Island Department of Revenue today released its FY 2018 Local 1.0 Percent Meal and Beverage Tax Collections Report for October 2017. 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 Mark A. Furcolo were Month-to-month decrease in local 1.0 percent meal and beverage tax collections was modest at 8.8 percent, less than the 17.1 percent month-to-month growth recorded in October 2016; A significant year-over-year increase in local 1.0 percent meal and beverage tax collections for October 2017 of 20.0 percent versus a 8.9 percent year-over-year growth rate posted in October 2016; FY 2018 year-to-date growth through October of 12.5 percent is nearly 10 percentage points more than the FY 2017 year-to-date growth rate recorded in October 2016 of 2.8 percent.

The entire report can be found on the Department of Revenue's web site at http://www.dor.ri.gov/revenue-analysis/2018.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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