July 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 JULY 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 % Jul-21 Jul-22 Jul-22 Jul-21 Jul-22 Jul-22 Jul-21 Jul-22 Jul-22 Jul-21 Jul-22 Difference INC/DEC Jul-21 Jul-22 Difference INC/DEC Individual Income 4,715,644.28 $ 2,165,747.58 $ 42,269,598.45 $ 64,342.72 $ 61,482.22 $ 5,102,499.65 $ 1,160,639.51 $ 798,750.03 $ 20,700,990.65 $ 5,940,626.51 $ 3,025,979.83 $ (2,914,646.68) $ -49% 110,582,692.14 $ 68,073,088.75 $ (42,509,603.39) $ -38% Estimated Tax 828,284.13 $ 691,034.50 $ 23,455,828.76 $ 124,910.00 $ 69,642.00 $ 2,116,644.00 $ 155,839.00 $ 411,881.00 $ 21,638,740.98 $ 1,109,033.13 $ 1,172,557.50 $ 63,524.37 $ 6% 41,301,670.99 $ 47,211,213.74 $ 5,909,542.75 $ 14% Withholding Tax 12,925,496.30 $ 14,290,467.17 $ 123,652,223.63 $ 367,047.19 $ 357,538.15 $ 3,632,141.27 $ 5,751,477.87 $ 4,312,726.08 $ 51,144,976.66 $ 19,044,021.36 $ 18,960,731.40 $ (83,289.96) $ 0% 177,780,234.74 $ 178,429,341.56 $ 649,106.82 $ 0% Individual Extension - $ - $ 89,913,987.26 $ - $ - $ 4,163,259.00 $ - $ - $ 14,637,199.70 $ - $ - $ - $ 0% 54,250,322.35 $ 108,714,445.96 $ 54,464,123.61 $ 100% Military (Riemb) - $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - $ 0% - $ - $ - $ 0% Individual Income Tax Sub-Total 18,469,424.71 17,147,249.25 279,291,638.10 556,299.91 488,662.37 15,014,543.92 7,067,956.38 5,523,357.11 108,121,907.99 26,093,681.00 23,159,268.73 (2,934,412.27) $ -11% 383,914,920.22 402,428,090.01 18,513,169.79 5% Corporate Income 940,286.52 $ 2,639,439.95 $ 27,888,967.77 $ - $ - $ 98,459.23 $ 34,910.75 $ 997,682.00 $ 4,379,314.28 $ 975,197.27 $ 3,637,121.95 $ 2,661,924.68 $ 273% 18,682,072.71 $ 32,366,741.28 $ 13,684,668.57 $ 73% Corporate Estimated 219,379.00 $ 297,743.00 $ 12,497,325.96 $ - $ 801.00 $ 57,763.00 $ 15,749.00 $ 27,200.00 $ 15,089,178.31 $ 235,128.00 $ 325,744.00 $ 90,616.00 $ 39% 13,550,382.56 $ 27,644,267.27 $ 14,093,884.71 $ 104% Corporate Extension 68,168.00 $ 19,300.00 $ 38,463,751.06 $ - $ - $ 64,843.00 $ - $ - $ 4,511,611.00 $ 68,168.00 $ 19,300.00 $ (48,868.00) $ -72% 24,714,191.37 $ 43,040,205.06 $ 18,326,013.69 $ 74% Corporate Income Tax Sub-Total 1,227,833.52 2,956,482.95 78,850,044.79 0.00 801.00 221,065.23 50,659.75 1,024,882.00 23,980,103.59 1,278,493.27 3,982,165.95 2,703,672.68 $ 211% 56,946,646.64 103,051,213.61 46,104,566.97 81% Total Income Taxes 19,697,258.23 20,103,732.20 358,141,682.89 556,299.91 489,463.37 15,235,609.15 7,118,616.13 6,548,239.11 132,102,011.58 27,372,174.27 27,141,434.68 (230,739.59) $ -1% 440,861,566.86 505,479,303.62 64,617,736.76 15% Gross Receipts Tax* ` 12,278,147.63 $ 10,890,423.77 $ 125,885,345.16 $ 1,150,751.58 $ 1,236,904.12 $ 12,021,208.47 $ 6,974,065.26 $ 4,951,998.00 $ 52,188,328.12 $ 20,402,964.47 $ 17,079,325.89 $ (3,323,638.58) $ -16% 199,437,386.40 $ 190,094,881.75 $ (9,342,504.65) $ -5% Excise Tax 3,013,158.61 $ 2,631,794.14 $ 27,594,910.10 $ - $ 42.00 $ 417.00 $ 293,785.56 $ 286,541.35 $ 3,403,209.63 $ 3,306,944.17 $ 2,918,377.49 $ (388,566.68) $ -12% 13,914,446.92 $ 30,998,536.73 $ 17,084,089.81 $ 123% Entertainment Tax - $ - $ - $ - $ - $ - $ - $ - $ 15,121.81 $ - $ - $ - $ 0% - $ 15,121.81 $ 15,121.81 $ 0% Franchise Fee - $ - $ 629,490.51 $ - $ - $ - $ - $ - $ - $ - $ - $ - $ 0% 548,993.82 $ 629,490.51 $ 80,496.69 $ 15% Miscellaneous, Photo Copy, Etc. 2,813.00 $ 2,130.00 $ 27,172.74 $ - $ - $ - $ 1,158.00 $ 1,276.00 $ 15,601.54 $ 3,971.00 $ 3,406.00 $ (565.00) $ -14% 48,988.00 $ 42,774.28 $ (6,213.72) $ -13% Environmental Infrastructure Impact Fee 85% 446,441.25 $ 633,122.50 $ 4,057,546.83 $ 2,210.00 $ - $ 20,842.85 $ - $ - $ - $ 448,651.25 $ 633,122.50 $ 184,471.25 $ 41% 3,454,091.45 $ 4,078,389.68 $ 624,298.23 $ 18% Total Other General Fund Taxes 15,740,560.49 14,157,470.41 158,194,465.34 1,152,961.58 1,236,946.12 12,042,468.32 7,269,008.82 5,239,815.35 55,622,261.10 24,162,530.89 20,634,231.88 (3,528,299.01) $ -15% 217,403,906.59 225,859,194.76 8,455,288.17 4% 35,437,818.72 34,261,202.61 516,336,148.23 1,709,261.49 1,726,409.49 27,278,077.47 14,387,624.95 11,788,054.46 187,724,272.68 51,534,705.16 47,775,666.56 (3,759,038.60) $ -7% 658,265,473.45 731,338,498.38 73,073,024.93 11% Special Funds Fuel Tax (Transportation Fund/WAPA Instructure)*** 189,445.06 $ 130,440.38 $ 1,800,137.59 $ 15,960.00 $ - $ 23,520.00 $ 111,808.00 $ 161,989.77 $ 1,730,629.59 $ 317,213.06 $ 292,430.15 $ (24,782.91) $ -8% 4,251,962.59 $ 3,554,287.18 $ (697,675.41) $ -16% Highway Users' Tax (Transportation Fund) 145,754.88 $ 137,824.80 $ 1,624,165.42 $ 26,805.28 $ 23,104.00 $ 382,601.60 $ 152,287.12 $ 120,692.80 $ 1,485,196.16 $ 324,847.28 $ 281,621.60 $ (43,225.68) $ -13% 4,013,981.70 $ 3,491,963.18 $ (522,018.52) $ -13% Hotel Room Tax 2,683,156.96 $ 2,713,170.15 $ 26,426,699.50 $ 838,935.11 $ 684,448.14 $ 7,589,887.33 $ 498,887.37 $ 428,984.05 $ 4,490,302.70 $ 4,020,979.44 $ 3,826,602.34 $ (194,377.10) $ -5% 28,261,683.52 $ 38,506,889.53 $ 10,245,206.01 $ 36% Environmental Infrastructure Impact Fee 15% 78,783.75 $ 111,727.50 $ 716,037.68 $ 390.00 $ - $ 3,678.15 $ - $ - $ - $ 79,173.75 $ 111,727.50 $ 32,553.75 $ 41% 609,545.55 $ 719,715.83 $ 110,170.28 $ 18% Gross Casino (Casino Revenue Fund) - $ - $ - $ - $ - $ - $ 206,694.79 $ 169,051.87 $ 1,995,636.70 $ 206,694.79 $ 169,051.87 $ (37,642.92) $ -18% 1,851,296.62 $ 1,995,636.70 $ 144,340.08 $ 8% Racino - $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - $ 0% - $ - $ - $ 0% Lonesome Dove Fund 250,000.00 $ 2,425,000.00 $ 3,290,000.00 $ - $ - $ - $ - $ - $ - $ 250,000.00 $ 2,425,000.00 $ 2,175,000.00 $ 870% 950,000.00 $ 3,290,000.00 $ 2,340,000.00 $ 246% Arbitration Deposit - $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - $ 0% - $ - $ - $ 0% - $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - $ 0% - $ - $ - $ 0% Production Tax - $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - $ 0% - $ - $ - $ 0% Vehicle Rental Surcharge (VI Education Initiative Fund) 29,546.25 $ 35,064.00 $ 875,618.11 $ 50,041.20 $ 40,659.50 $ 364,909.51 $ 153,604.00 $ 68,281.25 $ 1,057,752.75 $ 233,191.45 $ 144,004.75 $ (89,186.70) $ -38% 2,171,582.80 $ 2,298,280.37 $ 126,697.57 $ 6% Investment Alternative Tax - $ - $ - $ - $ - $ - $ 38,893.44 $ 34,401.48 $ 141,651.75 $ 38,893.44 $ 34,401.48 $ (4,491.96) $ -12% 119,217.25 $ 141,651.75 $ 22,434.50 $ 19% Total Special Funds Revenue 3,376,686.90 5,553,226.83 34,732,658.30 932,131.59 748,211.64 8,364,596.59 1,162,174.72 983,401.22 10,901,169.65 5,470,993.21 7,284,839.69 1,813,846.48 $ 33% 42,229,270.03 53,998,424.54 11,769,154.51 28% TOTAL MONTHLY REVENUE COLLECTIONS 38,814,505.62 $ 39,814,429.44 $ 551,068,806.52 $ 2,641,393.08 $ 2,474,621.13 $ 35,642,674.06 $ 15,549,799.67 $ 12,771,455.68 $ 198,625,442.33 $ 57,005,698.37 $ 55,060,506.25 $ (1,945,192.12) $ -3% 700,494,743.48 $ 785,336,922.91 $ 84,842,179.43 $ 12% Total of All Islands Class of Tax Total General Fund Revenue St. Thomas St. John St. Croix