July 2023

Collection: Government Financials
Sub-shelf: BIR Tax Collection Reports
Kind: Financial Report
Date: 2023
Topics: Public Finance
Pages: 1
Text: Native Text

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BUREAU OF INTERNAL REVENUE FISCAL YEAR 2023 JULY MONTHLY COLLECTION REPORT Collection Collection Cummulative Collection Collection Cummulative Collection Collection Cummulative Collection Collection Collection Cummulative Cummulative Cummulative FY 2022 FY 2023 FY 2023 FY 2022 FY 2023 FY 2023 FY 2022 FY 2023 FY 2023 FY 2022 FY 2023 FY 2022 & FY 2023 % FY 2022 FY 2023 FY 2022 & FY 2023 % Jul-22 Jul-23 Jul-23 Jul-22 Jul-23 Jul-23 Jul-22 Jul-23 Jul-23 Jul-22 Jul-23 Difference INC/DEC Jul-22 Jul-23 Difference INC/DEC Individual Income 2,165,747.58 $ 2,453,655.12 $ 75,779,791.11 $ 61,482.22 $ 56,723.07 $ 3,369,860.64 $ 798,750.03 $ 633,897.95 $ 24,017,001.30 $ 3,025,979.83 $ 3,144,276.14 $ 118,296.31 $ 4% 68,073,088.75 $ 103,166,653.05 $ 35,093,564.30 $ 52% Estimated Tax 691,034.50 $ 971,989.00 $ 28,273,698.38 $ 69,642.00 $ 50,908.00 $ 2,280,595.12 $ 411,881.00 $ 273,964.69 $ 15,746,068.99 $ 1,172,557.50 $ 1,296,861.69 $ 124,304.19 $ 11% 47,211,213.74 $ 46,300,362.49 $ (910,851.25) $ -2% Withholding Tax 14,290,467.17 $ 9,284,543.02 $ 121,254,821.87 $ 357,538.15 $ 329,663.24 $ 3,524,851.26 $ 4,312,726.08 $ 4,001,253.36 $ 48,969,856.51 $ 18,960,731.40 $ 13,615,459.62 $ (5,345,271.78) $ -28% 178,429,341.56 $ 173,749,529.64 $ (4,679,811.92) $ -3% Individual Extension - $ - $ 40,889,894.09 $ - $ - $ 586,442.00 $ - $ - $ 20,030,960.41 $ - $ - $ - $ 0% 108,714,445.96 $ 61,507,296.50 $ (47,207,149.46) $ -43% Military (Riemb) - $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - $ 0% - $ - $ - $ 0% Individual Income Tax Sub-Total 17,147,249.25 12,710,187.14 266,198,205.45 488,662.37 437,294.31 9,761,749.02 5,523,357.11 4,909,116.00 108,763,887.21 23,159,268.73 18,056,597.45 (5,102,671.28) $ -22% 402,428,090.01 384,723,841.68 17,704,248.33 -4% Corporate Income 2,639,439.95 $ 429,490.54 $ 10,844,481.35 $ - $ - $ 64,631.00 $ 997,682.00 $ 7,606.72 $ 1,332,150.89 $ 3,637,121.95 $ 437,097.26 $ (3,200,024.69) $ -88% 32,366,741.28 $ 12,241,263.24 $ (20,125,478.04) $ -62% Corporate Estimated 297,743.00 $ 237,015.00 $ 15,129,437.22 $ 801.00 $ - $ 14,119.00 $ 27,200.00 $ 33,547.00 $ 4,948,709.00 $ 325,744.00 $ 270,562.00 $ (55,182.00) $ -17% 27,644,267.27 $ 20,092,265.22 $ (7,552,002.05) $ -27% Corporate Extension 19,300.00 $ - $ 30,146,760.26 $ - $ - $ 32,000.00 $ - $ - $ 4,677,075.00 $ 19,300.00 $ - $ (19,300.00) $ -100% 43,040,205.06 $ 34,855,835.26 $ (8,184,369.80) $ -19% Corporate Income Tax Sub-Total 2,956,482.95 666,505.54 56,120,678.83 801.00 0.00 110,750.00 1,024,882.00 41,153.72 10,957,934.89 3,982,165.95 707,659.26 (3,274,506.69) $ -82% 103,051,213.61 67,189,363.72 35,861,849.89 -35% Total Income Taxes 20,103,732.20 13,376,692.68 322,318,884.28 489,463.37 437,294.31 9,872,499.02 6,548,239.11 4,950,269.72 119,721,822.10 27,141,434.68 18,764,256.71 (8,377,177.97) $ -31% 505,479,303.62 451,913,205.40 53,566,098.22 -11% Gross Receipts Tax* ` 10,890,423.77 $ 11,535,872.98 $ 121,815,620.77 $ 1,236,904.12 $ 826,592.88 $ 9,989,509.39 $ 4,951,998.00 $ 4,221,701.97 $ 47,109,995.43 $ 17,079,325.89 $ 16,584,167.83 $ (495,158.06) $ -3% 190,094,881.75 $ 178,915,125.59 $ (11,179,756.16) $ -6% Excise Tax 2,631,794.14 $ 2,346,014.25 $ 27,759,172.21 $ 42.00 $ 98.00 $ 388.00 $ 286,541.35 $ 353,285.70 $ 3,079,721.96 $ 2,918,377.49 $ 2,699,397.95 $ (218,979.54) $ -8% 30,998,536.73 $ 30,839,282.17 $ (159,254.56) $ -1% Entertainment Tax - $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - $ 0% 15,121.81 $ - $ (15,121.81) $ -100% Franchise Fee - $ - $ 497,333.44 $ - $ - $ - $ - $ - $ - $ - $ - $ - $ 0% 629,490.51 $ 497,333.44 $ (132,157.07) $ -21% Miscellaneous, Photo Copy, Etc. 2,130.00 $ 1,237.00 $ 22,159.00 $ - $ - $ - $ 1,276.00 $ 1,938.50 $ 12,842.70 $ 3,406.00 $ 3,175.50 $ (230.50) $ -7% 42,774.28 $ 35,001.70 $ (7,772.58) $ -18% Environmental Infrastructure Impact Fee 85% 633,122.50 $ - $ 2,680,330.03 $ - $ - $ 5,257.50 $ - $ - $ 15,745.00 $ 633,122.50 $ - $ (633,122.50) $ -100% 4,078,389.68 $ 2,701,332.53 $ (1,377,057.14) $ -34% Total Other General Fund Taxes 14,157,470.41 13,883,124.23 152,774,615.45 1,236,946.12 826,690.88 9,995,154.89 5,239,815.35 4,576,926.17 50,218,305.09 20,634,231.88 19,286,741.28 (1,347,490.60) $ -7% 225,859,194.76 212,988,075.43 12,871,119.32 -6% 34,261,202.61 27,259,816.91 475,093,499.73 1,726,409.49 1,263,985.19 19,867,653.91 11,788,054.46 9,527,195.89 169,940,127.19 47,775,666.56 38,050,997.99 (9,724,668.57) $ -20% 731,338,498.38 664,901,280.83 66,437,217.54 -9% Special Funds Fuel Tax (Transportation Fund/WAPA Instructure)*** 130,440.38 $ 168,495.18 $ 1,711,009.76 $ - $ - $ - $ 161,989.77 $ 212,900.10 $ 1,819,728.49 $ 292,430.15 $ 381,395.28 $ 88,965.13 $ 30% 3,554,287.18 $ 3,530,738.25 $ (23,548.93) $ -1% Highway Users' Tax (Transportation Fund) 137,824.80 $ 150,966.24 $ 1,907,606.50 $ 23,104.00 $ 9,295.04 $ 176,011.52 $ 120,692.80 $ 125,713.12 $ 1,306,390.08 $ 281,621.60 $ 285,974.40 $ 4,352.80 $ 2% 3,491,963.18 $ 3,390,008.10 $ (101,955.08) $ -3% Hotel Room Tax 2,713,170.15 $ 1,427,990.69 $ 12,725,719.37 $ 684,448.14 $ 151,519.89 $ 1,266,802.26 $ 428,984.05 $ 274,971.89 $ 3,217,545.60 $ 3,826,602.34 $ 1,854,482.47 $ (1,972,119.87) $ -52% 23,416,174.97 $ 17,210,067.23 $ (6,206,107.74) $ -27% Non-Hotel Room Tax 2,138,776.74 $ 628,785.09 $ 10,557,344.81 $ 520,504.14 $ 319,350.63 $ 4,672,884.97 $ 73,404.99 $ 69,868.60 $ 896,074.97 $ 2,732,685.87 $ 1,018,004.32 $ (1,714,681.55) $ -63% 24,143,795.15 $ 16,126,304.75 $ (8,017,490.40) $ -33% Environmental Infrastructure Impact Fee 15% 111,727.50 $ 180,625.50 $ 1,430,120.51 $ - $ - $ 367.50 $ - $ 2,275.00 $ 3,480.00 $ 111,727.50 $ 182,900.50 $ 71,173.00 $ 64% 719,715.83 $ 1,433,968.01 $ 714,252.18 $ 99% Gross Casino (Casino Revenue Fund) - $ - $ - $ - $ - $ - $ 169,051.87 $ 149,997.82 $ 1,859,807.08 $ 169,051.87 $ 149,997.82 $ (19,054.05) $ -11% 1,995,636.70 $ 1,859,807.08 $ (135,829.62) $ -7% Racino - $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - $ 0% - $ - $ - $ 0% Lonesome Dove Fund 2,425,000.00 $ 350,000.00 $ 2,505,000.00 $ - $ - $ - $ - $ - $ - $ 2,425,000.00 $ 350,000.00 $ (2,075,000.00) $ -86% 3,290,000.00 $ 2,505,000.00 $ (785,000.00) $ -24% Arbitration Deposit - $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - $ 0% - $ - $ - $ 0% Production Tax - $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - $ 0% - $ - $ - $ 0% Vehicle Rental Surcharge (VI Education Initiative Fund) 35,064.00 $ 113,657.75 $ 1,068,809.13 $ 40,659.50 $ 40,752.50 $ 338,412.80 $ 68,281.25 $ 46,905.00 $ 649,456.66 $ 144,004.75 $ 201,315.25 $ 57,310.50 $ 40% 2,298,280.37 $ 2,056,678.59 $ (241,601.78) $ -11% Investment Alternative Tax - $ - $ - $ - $ - $ - $ 34,401.48 $ 30,853.67 $ 118,403.94 $ 34,401.48 $ 30,853.67 $ (3,547.81) $ -10% 141,651.75 $ 118,403.94 $ (23,247.81) $ -16% Total Special Funds Revenue 7,692,003.57 3,020,520.45 31,905,610.08 1,268,715.78 520,918.06 6,454,479.05 1,056,806.21 913,485.20 9,870,886.82 10,017,525.56 4,454,923.71 (5,562,601.85) $ -56% 63,051,505.13 48,230,975.95 14,820,529.18 -24% TOTAL MONTHLY REVENUE COLLECTIONS 41,953,206.18 $ 30,280,337.36 $ 506,999,109.81 $ 2,995,125.27 $ 1,784,903.25 $ 26,322,132.96 $ 12,844,860.67 $ 10,440,681.09 $ 179,811,014.01 $ 57,793,192.12 $ 42,505,921.70 $ (15,287,270.42) $ -26% 794,390,003.50 $ 713,132,256.78 $ (81,257,746.72) $ -10% Total of All Islands Class of Tax Total General Fund Revenue St. Thomas St. John St. Croix