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 February 2018. 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 increase in local 1.0 percent meal and beverage tax collections was 0.7 percent, a reversal from the month-to-month decrease of 11.7 percent recorded in February 2017; • A significant year-over-year increase in local 1.0 percent meal and beverage tax collections for February 2018 of 38.8 percent versus a 12.8 percent year-over-year decline posted in February 2017; • FY 2018 year-to-date growth through February of 14.8 percent is nearly fifteen times that of the FY 2017 year-to-date growth rate recorded in February 2017 of 0.1 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 six municipalities with strong nominal increases in Providence, up $840,598 on a fiscal year-to-date basis; Warwick, up $336,211; Newport, up $240,102; and Cranston, up $206,612."
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 firstname.lastname@example.org or by phone at (401) 574-8766.