Providence, R.I. -- The Rhode Island Department of Revenue today released its FY 2015 Local 1.0 Percent Meal and Beverage Tax Collections Report for May 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 are: • Month-to-month increase in local 1.0 percent meal and beverage tax collections was significant at 17.9 percent but below the 19.5-percent month-to-month growth rate recorded in May 2015; • Year-over-year increase in local 1.0 percent meal and beverage tax collections for May 2016 was, at best, modest at 3.1 percent, less than one-third of the 10.7-percent year-over-year growth rate realized in May of FY 2015; • Year-to-date FY 2016 local 1.0 percent meal and beverage tax collections through April were 7.8 percent more than the same period last fiscal year and ahead of the 7.1 percent FY 2015 year-to-date through May growth rate.
The report can be found on the Department of Revenue's website 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.