May 2022

Collection: Government Financials
Sub-shelf: BIR Tax Collection Reports
Kind: Financial Report
Date: 2022
Topics: Public Finance
Pages: 1
Text: Native Text

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BUREAU OF INTERNAL REVENUE FISCAL YEAR 2022 MAY MONTHLY COLLECTION REPORT Collection Collection Cummulative Collection Collection Cummulative Collection Collection Cummulative Collection Collection Collection Cummulative Cummulative Cummulative FY 2021 FY 2022 FY 2022 FY 2021 FY 2022 FY 2022 FY 2021 FY 2022 FY 2022 FY 2021 FY 2022 FY 2021 & FY 2022 % FY 2021 FY 2022 FY 2021 & FY 2022 % May-21 May-22 May-22 May-21 May-22 May-22 May-21 May-22 May-22 May-21 May-22 Difference INC/DEC May-21 May-22 Difference INC/DEC Individual Income 28,208,489.61 $ 7,724,174.43 $ 37,870,668.35 $ 1,319,221.95 $ 148,491.73 $ 4,893,486.17 $ 6,556,408.04 $ 2,324,959.77 $ 18,355,564.35 $ 36,084,119.60 $ 10,197,625.93 $ (25,886,493.67) $ -72% 100,527,951.65 $ 61,119,718.87 $ (39,408,232.78) $ -39% Estimated Tax 487,063.00 $ 600,769.00 $ 17,254,226.70 $ 98,030.00 $ 110,644.00 $ 1,546,834.00 $ 799,123.00 $ 379,094.00 $ 14,668,014.52 $ 1,384,216.00 $ 1,090,507.00 $ (293,709.00) $ -21% 32,620,420.53 $ 33,469,075.22 $ 848,654.69 $ 3% Withholding Tax 8,472,113.15 $ 13,341,003.14 $ 98,193,367.55 $ 300,320.80 $ 469,940.12 $ 2,927,773.66 $ 5,673,780.11 $ 6,168,160.21 $ 41,583,173.61 $ 14,446,214.06 $ 19,979,103.47 $ 5,532,889.41 $ 38% 140,579,077.05 $ 142,704,314.82 $ 2,125,237.77 $ 2% Individual Extension 40,343,392.25 $ 716,328.00 $ 89,858,640.26 $ 172,914.00 $ 10,500.00 $ 4,163,259.00 $ 8,365,892.74 $ 219,515.52 $ 14,637,199.70 $ 48,882,198.99 $ 946,343.52 $ (47,935,855.47) $ -98% 53,950,128.51 $ 108,659,098.96 $ 54,708,970.45 $ 101% Military (Riemb) - $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - $ 0% - $ - $ - $ 0% Individual Income Tax Sub-Total 77,511,058.01 22,382,274.57 243,176,902.86 1,890,486.75 739,575.85 13,531,352.83 21,395,203.89 9,091,729.50 89,243,952.18 100,796,748.65 32,213,579.92 (68,583,168.73) $ -68% 327,677,577.74 345,952,207.87 18,274,630.13 6% Corporate Income 1,082,929.42 $ 312,182.05 $ 23,342,544.00 $ 3,465.00 $ 6,899.00 $ 98,459.23 $ 81,719.37 $ 800,426.21 $ 3,206,279.16 $ 1,168,113.79 $ 1,119,507.26 $ (48,606.53) $ -4% 15,190,477.59 $ 26,647,282.39 $ 11,456,804.80 $ 75% Corporate Estimated 55,000.00 $ 1,995,098.56 $ 10,206,231.96 $ - $ - $ 16,908.00 $ 22,000.00 $ 69,462.00 $ 10,342,653.31 $ 77,000.00 $ 2,064,560.56 $ 1,987,560.56 $ 2581% 8,645,269.42 $ 20,565,793.27 $ 11,920,523.85 $ 138% Corporate Extension 477,179.00 $ 3,048,799.14 $ 38,434,201.06 $ 10,100.00 $ - $ 64,843.00 $ 135,280.00 $ 77,252.00 $ 4,511,611.00 $ 622,559.00 $ 3,126,051.14 $ 2,503,492.14 $ 402% 23,375,027.57 $ 43,010,655.06 $ 19,635,627.49 $ 84% Corporate Income Tax Sub-Total 1,615,108.42 5,356,079.75 71,982,977.02 13,565.00 6,899.00 180,210.23 238,999.37 947,140.21 18,060,543.47 1,867,672.79 6,310,118.96 4,442,446.17 $ 238% 47,210,774.58 90,223,730.72 43,012,956.14 91% Total Income Taxes 79,126,166.43 27,738,354.32 315,159,879.88 1,904,051.75 746,474.85 13,711,563.06 21,634,203.26 10,038,869.71 107,304,495.65 102,664,421.44 38,523,698.88 (64,140,722.56) $ -62% 374,888,352.32 436,175,938.59 61,287,586.27 16% Gross Receipts Tax* ` 13,553,923.80 $ 15,981,938.26 $ 103,849,737.21 $ 1,033,738.53 $ 1,884,431.09 $ 9,691,093.86 $ 6,041,890.44 $ 6,469,912.81 $ 40,656,172.67 $ 20,629,552.77 $ 24,336,282.16 $ 3,706,729.39 $ 18% 151,571,179.01 $ 154,197,003.74 $ 2,625,824.73 $ 2% Excise Tax 1,983,976.77 $ 3,010,165.24 $ 21,881,285.70 $ - $ 231.00 $ 276.00 $ 894,488.74 $ 290,292.64 $ 2,676,260.35 $ 2,878,465.51 $ 3,300,688.88 $ 422,223.37 $ 15% 7,587,678.03 $ 24,557,822.05 $ 16,970,144.02 $ 224% Entertainment Tax - $ - $ - $ - $ - $ - $ - $ 15,121.81 $ 15,121.81 $ - $ 15,121.81 $ 15,121.81 $ 0% - $ 15,121.81 $ 15,121.81 $ 0% Franchise Fee - $ 275,632.30 $ 629,490.51 $ - $ - $ - $ - $ - $ - $ - $ 275,632.30 $ 275,632.30 $ 0% 548,993.82 $ 629,490.51 $ 80,496.69 $ 15% Miscellaneous, Photo Copy, Etc. 1,651.00 $ 2,291.00 $ 23,252.74 $ - $ - $ - $ 1,311.00 $ 1,469.17 $ 12,652.54 $ 2,962.00 $ 3,760.17 $ 798.17 $ 27% 41,123.50 $ 35,905.28 $ (5,218.22) $ -13% Environmental Infrastructure Impact Fee 85% 299,837.50 $ 658,452.50 $ 3,118,998.08 $ 2,486.25 $ 5,843.75 $ 19,376.60 $ - $ - $ - $ 302,323.75 $ 664,296.25 $ 361,972.50 $ 120% 2,461,652.70 $ 3,138,374.68 $ 676,721.98 $ 27% Total Other General Fund Taxes 15,839,389.07 19,928,479.30 129,502,764.24 1,036,224.78 1,890,505.84 9,710,746.46 6,937,690.18 6,776,796.43 43,360,207.37 23,813,304.03 28,595,781.57 4,782,477.54 $ 20% 162,210,627.06 182,573,718.07 20,363,091.01 13% 94,965,555.50 47,666,833.62 444,662,644.12 2,940,276.53 2,636,980.69 23,422,309.52 28,571,893.44 16,815,666.14 150,664,703.02 126,477,725.47 67,119,480.45 (59,358,245.02) $ -47% 537,098,979.38 618,749,656.66 81,650,677.28 15% Special Funds Fuel Tax (Transportation Fund/WAPA Instructure)*** 125,450.31 $ 167,518.40 $ 1,488,742.03 $ 8,400.00 $ - $ 23,520.00 $ 238,848.23 $ 371,698.11 $ 1,368,182.58 $ 372,698.54 $ 539,216.51 $ 166,517.97 $ 45% 3,316,240.70 $ 2,880,444.61 $ (435,796.09) $ -13% Highway Users' Tax (Transportation Fund) 161,535.20 $ 206,383.52 $ 1,338,755.04 $ 35,379.04 $ 39,079.04 $ 319,413.92 $ 191,200.47 $ 139,626.44 $ 1,228,498.40 $ 388,114.71 $ 385,089.00 $ (3,025.71) $ -1% 3,302,031.26 $ 2,886,667.36 $ (415,363.90) $ -13% Hotel Room Tax 2,576,785.29 $ 2,888,483.45 $ 20,573,742.05 $ 575,560.07 $ 1,376,721.16 $ 6,105,480.23 $ 452,183.68 $ 617,060.93 $ 3,191,415.68 $ 3,604,529.04 $ 4,882,265.54 $ 1,277,736.50 $ 35% 19,786,749.79 $ 29,870,637.96 $ 10,083,888.17 $ 51% Environmental Infrastructure Impact Fee 15% 52,912.50 $ 116,197.50 $ 550,411.43 $ 438.75 $ 1,031.25 $ 3,419.40 $ - $ - $ - $ 53,351.25 $ 117,228.75 $ 63,877.50 $ 120% 434,409.30 $ 553,830.83 $ 119,421.53 $ 27% Gross Casino (Casino Revenue Fund) - $ - $ - $ - $ - $ - $ 184,896.96 $ 197,552.68 $ 1,571,153.00 $ 184,896.96 $ 197,552.68 $ 12,655.72 $ 7% 1,422,212.59 $ 1,571,153.00 $ 148,940.41 $ 10% Racino - $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - $ 0% - $ - $ - $ 0% Lonesome Dove Fund - $ 225,000.00 $ 865,000.00 $ - $ - $ - $ - $ - $ - $ - $ 225,000.00 $ 225,000.00 $ 0% 500,000.00 $ 865,000.00 $ 365,000.00 $ 73% Arbitration Deposit - $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - $ 0% - $ - $ - $ 0% - $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - $ 0% - $ - $ - $ 0% Production Tax - $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - $ 0% - $ - $ - $ 0% Vehicle Rental Surcharge (VI Education Initiative Fund) 41,430.01 $ 209,516.35 $ 719,210.01 $ 38,016.75 $ 61,163.50 $ 285,996.01 $ 150,580.00 $ 70,994.50 $ 888,544.00 $ 230,026.76 $ 341,674.35 $ 111,647.59 $ 49% 1,610,885.74 $ 1,893,750.02 $ 282,864.28 $ 18% Investment Alternative Tax - $ - $ - $ - $ - $ - $ - $ - $ 107,250.27 $ - $ - $ - $ 0% 80,323.81 $ 107,250.27 $ 26,926.46 $ 34% Total Special Funds Revenue 2,958,113.31 3,813,099.22 25,535,860.56 657,794.61 1,477,994.95 6,737,829.56 1,217,709.34 1,396,932.66 8,355,043.93 4,833,617.26 6,688,026.83 1,854,409.57 $ 38% 30,452,853.19 40,628,734.05 10,175,880.86 33% TOTAL MONTHLY REVENUE COLLECTIONS 97,923,668.81 $ 51,479,932.84 $ 470,198,504.67 $ 3,598,071.14 $ 4,114,975.64 $ 30,160,139.08 $ 29,789,602.78 $ 18,212,598.80 $ 159,019,746.95 $ 131,311,342.73 $ 73,807,507.28 $ (57,503,835.45) $ -44% 567,551,832.57 $ 659,378,390.70 $ 91,826,558.13 $ 16% Total of All Islands Class of Tax Total General Fund Revenue St. Thomas St. John St. Croix