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Local meal, beverage tax collections 11.4% ahead of fiscal 2017

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 December 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 3.7 percent, a decline commensurate with the 3.5 percent month-to-month growth recorded in December 2016; A strong year-over-year increase in local 1.0 percent meal and beverage tax collections for December 2017 of 8.2 percent versus a 1.7 percent year-over-year growth rate posted in December 2016; FY 2018 year-to-date growth through December of 11.4 percent is more than seven times the FY 2017 year-to-date growth rate recorded in December 2016 of 1.6 percent. Director Furcolo stated that "local 1.0 percent meal and beverage tax collections have performed very well in FY 2018 providing revenue increases to all but five municipalities with strong nominal increases in Providence, up $487,199 on a fiscal year-to-date basis; Newport, up $189,924; and Warwick, up $152,343 ."

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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