July 2020

Collection: Government Financials
Sub-shelf: BIR Tax Collection Reports
Kind: Financial Report
Date: 2020
Topics: Public Finance
Pages: 1
Text: Native Text

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BUREAU OF INTERNAL REVENUE FISCAL YEAR 2020 JULY MONTHLY COLLECTION REPORT Collection Collection Cummulative Collection Collection Cummulative Collection Collection Cummulative Collection Collection Collection Cummulative Cummulative Cummulative FY 2019 FY 2020 FY 2020 FY 2019 FY 2020 FY 2020 FY 2019 FY 2020 FY 2020 FY 2019 FY 2020 FY 2019 & FY 2020 % FY 2019 FY 2020 FY 2019 & FY 2020 % Jul-19 Jul-20 Jul-20 Jul-19 Jul-20 Jul-20 Jul-19 Jul-20 Jul-20 Jul-19 Jul-20 Difference INC/DEC Jul-19 Jul-20 Difference INC/DEC Individual Income 1,415,650.71 $ 23,754,544.26 $ 44,715,028.23 $ 16,220.24 $ 762,854.08 $ 1,692,558.10 $ 824,917.27 $ 14,761,824.40 $ 25,418,419.31 $ 2,256,788.22 $ 39,279,222.74 $ 37,022,434.52 $ 1640% 59,886,465.05 $ 71,826,005.64 $ 11,939,540.59 $ 20% Estimated Tax 1,499,656.75 $ 6,111,031.35 $ 29,472,346.20 $ 10,680.00 $ 174,111.38 $ 1,023,137.03 $ 315,331.12 $ 5,008,171.00 $ 23,992,823.54 $ 1,825,667.87 $ 11,293,313.73 $ 9,467,645.86 $ 519% 51,655,280.39 $ 54,488,306.77 $ 2,833,026.38 $ 5% Withholding Tax 11,159,389.09 $ 9,986,629.84 $ 108,776,848.48 $ 297,964.71 $ 282,593.61 $ 2,519,239.30 $ 8,002,623.19 $ 8,012,349.08 $ 84,996,108.54 $ 19,459,976.99 $ 18,281,572.53 $ (1,178,404.46) $ -6% 181,073,806.00 $ 196,292,196.32 $ 15,218,390.32 $ 8% Individual Extension - $ 57,048,293.02 $ 60,893,870.02 $ - $ 142,865.00 $ 249,953.00 $ - $ 4,676,287.79 $ 8,653,408.79 $ - $ 61,867,445.81 $ 61,867,445.81 $ 0% 54,088,290.75 $ 69,797,231.81 $ 15,708,941.06 $ 29% Military (Riemb) - $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - $ 0% - $ - $ - $ 0% Individual Income Tax Sub-Tota 14,074,696.55 96,900,498.47 243,858,092.93 324,864.95 1,362,424.07 5,484,887.43 9,142,871.58 32,458,632.27 143,060,760.18 23,542,433.08 130,721,554.81 107,179,121.73 $ 455% 346,703,842.19 392,403,740.54 45,699,898.35 13% Corporate Income 441,608.48 $ 3,202,624.53 $ 10,203,522.26 $ 7,513.95 $ 23,346.00 $ 55,215.52 $ 268,095.00 $ 177,513.15 $ 4,051,884.46 $ 717,217.43 $ 3,403,483.68 $ 2,686,266.25 $ 375% 12,475,732.96 $ 14,310,622.24 $ 1,834,889.28 $ 15% Corporate Estimated 890,031.36 $ 2,206,322.00 $ 8,506,580.38 $ - $ - $ 7,486.00 $ 41,909.00 $ 3,427,262.00 $ 7,068,057.00 $ 931,940.36 $ 5,633,584.00 $ 4,701,643.64 $ 505% 23,975,678.52 $ 15,582,123.38 $ (8,393,555.14) $ -35% Corporate Extension 41,900.00 $ 10,038,980.00 $ 14,982,298.57 $ - $ 5,000.00 $ 5,000.00 $ - $ 5,146,613.00 $ 11,724,015.00 $ 41,900.00 $ 15,190,593.00 $ 15,148,693.00 $ 36154% 15,702,303.58 $ 26,711,313.57 $ 11,009,009.99 $ 70% Corporate Income Tax Sub-Tota 1,373,539.84 15,447,926.53 33,692,401.21 7,513.95 28,346.00 67,701.52 310,004.00 8,751,388.15 22,843,956.46 1,691,057.79 24,227,660.68 22,536,602.89 $ 1333% 52,153,715.06 56,604,059.19 4,450,344.13 9% Total Income Taxes 15,448,236.39 112,348,425.00 277,550,494.14 332,378.90 1,390,770.07 5,552,588.95 9,452,875.58 41,210,020.42 165,904,716.64 25,233,490.87 154,949,215.49 129,715,724.62 $ 514% 398,857,557.25 449,007,799.73 50,150,242.48 13% Gross Receipts Tax* ` 11,728,134.99 $ 20,164,289.00 $ 122,234,969.86 $ 571,495.02 $ 530,145.67 $ 5,496,719.98 $ 9,227,787.40 $ 15,522,509.96 $ 99,166,462.59 $ 21,527,417.41 $ 36,216,944.63 $ 14,689,527.22 $ 68% 206,172,555.61 $ 226,898,152.43 $ 20,725,596.82 $ 10% Excise Tax 141,346.82 $ 154,038.00 $ 1,448,174.78 $ 50.00 $ - $ 383.00 $ 60,380.15 $ 31,752.00 $ 279,138.29 $ 201,776.97 $ 185,790.00 $ (15,986.97) $ -8% 10,505,338.61 $ 1,727,696.07 $ (8,777,642.54) $ -84% Entertainment Tax - $ - $ 6,863.75 $ - $ - $ - $ - $ - $ - $ - $ - $ - $ 0% - $ 6,863.75 $ 6,863.75 $ 0% Franchise Fee - $ 193,643.19 $ 764,409.59 $ - $ - $ - $ - $ - $ - $ - $ 193,643.19 $ 193,643.19 $ 0% 492,250.71 $ 764,409.59 $ 272,158.88 $ 55% Miscellaneous, Photo Copy, Etc. 5,511.00 $ 3,150.00 $ 38,617.50 $ - $ - $ - $ 2,228.00 $ 993.00 $ 9,143.00 $ 7,739.00 $ 4,143.00 $ (3,596.00) $ -46% 187,344.23 $ 47,760.50 $ (139,583.73) $ -75% Environmental Infrastructure Impact Fee 85% 235,450.00 $ 25,691.25 $ 2,240,217.50 $ - $ 1,487.50 $ 35,038.06 $ 956.25 $ - $ 87,774.40 $ 236,406.25 $ 27,178.75 $ (209,227.50) $ -89% 2,269,213.58 $ 2,363,029.96 $ 93,816.39 $ 4% Total Other General Fund Taxes 12,110,442.81 20,540,811.44 126,733,252.98 571,545.02 531,633.17 5,532,141.04 9,291,351.80 15,555,254.96 99,542,518.28 21,973,339.63 36,627,699.57 14,654,359.94 $ 67% 219,626,702.74 231,807,912.30 12,181,209.57 6% 27,558,679.20 132,889,236.44 404,283,747.12 903,923.92 1,922,403.24 11,084,729.99 18,744,227.38 56,765,275.38 265,447,234.92 47,206,830.50 191,576,915.06 144,370,084.56 $ 306% 618,484,259.99 680,815,712.03 62,331,452.05 10% Special Funds Fuel Tax (Transportation Fund/WAPA Instructure)*** 159,362.80 $ 150,914.96 $ 1,897,526.90 $ 15,120.00 $ 15,120.00 $ 109,982.04 $ 403,529.02 $ 186,631.38 $ 1,947,834.49 $ 578,011.82 $ 352,666.34 $ (225,345.48) $ -39% 4,328,510.26 $ 3,955,343.43 $ (373,166.83) $ -9% Highway Users' Tax (Transportation Fund) 191,647.84 $ 146,348.64 $ 1,716,186.25 $ 6,687.68 $ 10,508.16 $ 106,437.04 $ 296,543.68 $ 206,179.24 $ 2,506,221.68 $ 494,879.20 $ 363,036.04 $ (131,843.16) $ -27% 6,120,231.56 $ 4,328,844.97 $ (1,791,386.59) $ -29% Hotel Room Tax 1,025,198.47 $ 426,599.20 $ 9,324,658.33 $ 291,902.01 $ 199,787.61 $ 2,373,903.51 $ 342,101.71 $ 84,282.07 $ 2,892,201.92 $ 1,659,202.19 $ 710,668.88 $ (948,533.31) $ -57% 17,489,075.19 $ 14,590,763.76 $ (2,898,311.43) $ -17% Environmental Infrastructure Impact Fee 15% 41,550.00 $ 4,533.75 $ 395,332.50 $ - $ 262.50 $ 6,183.19 $ 168.75 $ - $ 15,489.60 $ 41,718.75 $ 4,796.25 $ (36,922.50) $ -89% 716,617.47 $ 417,005.29 $ (299,612.18) $ -42% Gross Casino (Casino Revenue Fund) - $ - $ - $ - $ - $ - $ 153,547.46 $ 85,657.32 $ 1,137,619.17 $ 153,547.46 $ 85,657.32 $ (67,890.14) $ -44% 1,690,812.81 $ 1,137,619.17 $ (553,193.64) $ -33% Racino - $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - $ 0% 4,796.25 $ - $ (4,796.25) $ -100% Lonesome Dove Fund - $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - $ 0% 160,657.32 $ - $ (160,657.32) $ -100% Arbitration Deposit - $ - $ 600,000.00 $ - $ - $ - $ - $ - $ - $ - $ - $ - $ 0% - $ 600,000.00 $ 600,000.00 $ 0% - $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - $ 0% - $ - $ - $ 0% Production Tax - $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - $ 0% - $ - $ - $ 0% Vehicle Rental Surcharge (VI Education Initiative Fund) 88,211.74 $ 32,454.26 $ 476,852.20 $ 27,636.82 $ 12,600.00 $ 186,630.83 $ 179,628.75 $ 98,197.50 $ 1,365,030.25 $ 295,477.31 $ 143,251.76 $ (152,225.55) $ -52% 2,658,488.08 $ 2,028,513.28 $ (629,974.80) $ -24% Investment Alternative Tax - $ - $ - $ - $ - $ - $ 38,842.18 $ 7,548.22 $ 113,626.89 $ 38,842.18 $ 7,548.22 $ (31,293.96) $ -81% 124,625.05 $ 113,626.89 $ (10,998.16) $ -9% Total Special Funds Revenue 1,505,970.85 760,850.81 14,410,556.18 341,346.51 238,278.27 2,783,136.62 1,414,361.55 668,495.73 9,978,024.00 3,261,678.91 1,667,624.81 (1,594,054.10) $ -49% 33,293,813.99 27,171,716.80 6,122,097.19 -18% TOTAL MONTHLY REVENUE COLLECTIONS 29,064,650.05 $ 133,650,087.25 $ 418,694,303.30 $ 1,245,270.43 $ 2,160,681.51 $ 13,867,866.61 $ 20,158,588.93 $ 57,433,771.11 $ 275,425,258.92 $ 50,468,509.41 $ 193,244,539.87 $ 142,776,030.46 $ 283% 651,778,073.97 $ 707,987,428.83 $ 56,209,354.86 $ 9% Total of All Islands Class of Tax Total General Fund Revenue St. Thomas St. John St. Croix