February 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 FEBRUARY 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 % Feb-21 Feb-22 Feb-22 Feb-21 Feb-22 Feb-22 Feb-21 Feb-22 Feb-22 Feb-21 Feb-22 Difference INC/DEC Feb-21 Feb-22 Difference INC/DEC Individual Income 2,801,279.99 $ 1,430,387.93 $ 15,482,731.98 $ 18,002.77 $ 300,474.12 $ 436,257.87 $ 1,610,546.66 $ 581,691.83 $ 4,907,387.36 $ 4,429,829.42 $ 2,312,553.88 $ (2,117,275.54) $ -48% 33,984,308.82 $ 20,826,377.21 $ (13,157,931.61) $ -39% Estimated Tax 639,045.90 $ 252,250.00 $ 14,131,739.79 $ 15,212.00 $ - $ 954,805.00 $ 114,880.00 $ 286,849.00 $ 6,890,327.42 $ 769,137.90 $ 539,099.00 $ (230,038.90) $ -30% 24,081,524.84 $ 21,976,872.21 $ (2,104,652.63) $ -9% Withholding Tax 9,167,355.86 $ 14,892,760.77 $ 61,519,367.24 $ 275,254.43 $ 359,426.63 $ 1,771,177.76 $ 5,601,655.78 $ 5,233,974.46 $ 26,039,712.84 $ 15,044,266.07 $ 20,486,161.86 $ 5,441,895.79 $ 36% 86,247,864.96 $ 89,330,257.84 $ 3,082,392.88 $ 4% Individual Extension 85.00 $ 2,700,000.00 $ 2,700,000.00 $ - $ - $ - $ 5,000.00 $ - $ - $ 5,085.00 $ 2,700,000.00 $ 2,694,915.00 $ 52997% 26,414.00 $ 2,700,000.00 $ 2,673,586.00 $ 10122% Military (Riemb) - $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - $ 0% - $ - $ - $ 0% Individual Income Tax Sub-Total 12,607,766.75 19,275,398.70 93,833,839.01 308,469.20 659,900.75 3,162,240.63 7,332,082.44 6,102,515.29 37,837,427.62 20,248,318.39 26,037,814.74 5,789,496.35 $ 29% 144,340,112.62 134,833,507.26 9,506,605.36 -7% Corporate Income 122,438.12 $ 556,091.98 $ 20,651,398.38 $ - $ 911.00 $ 20,418.30 $ 124,989.00 $ 118,441.25 $ 1,005,940.79 $ 247,427.12 $ 675,444.23 $ 428,017.11 $ 173% 7,995,998.21 $ 21,677,757.47 $ 13,681,759.26 $ 171% Corporate Estimated 18,374.00 $ 1,446,000.00 $ 5,406,446.00 $ - $ - $ 10,716.00 $ 10,000.00 $ 10,000.00 $ 5,669,859.00 $ 28,374.00 $ 1,456,000.00 $ 1,427,626.00 $ 5031% 5,835,168.00 $ 11,087,021.00 $ 5,251,853.00 $ 90% Corporate Extension - $ - $ 1,918,957.00 $ - $ - $ - $ 100.00 $ 100.00 $ 100.00 $ 100.00 $ 100.00 $ - $ 0% 2,778,700.00 $ 1,919,057.00 $ (859,643.00) $ -31% Corporate Income Tax Sub-Total 140,812.12 2,002,091.98 27,976,801.38 0.00 911.00 31,134.30 135,089.00 128,541.25 6,675,899.79 275,901.12 2,131,544.23 1,855,643.11 $ 673% 16,609,866.21 34,683,835.47 18,073,969.26 109% Total Income Taxes 12,748,578.87 21,277,490.68 121,810,640.39 308,469.20 660,811.75 3,193,374.93 7,467,171.44 6,231,056.54 44,513,327.41 20,524,219.51 28,169,358.97 7,645,139.46 $ 37% 160,949,978.83 169,517,342.73 8,567,363.90 5% Gross Receipts Tax* ` 12,787,476.23 $ 11,764,946.77 $ 61,229,523.94 $ 722,851.42 $ 1,430,565.23 $ 5,726,307.47 $ 5,283,959.91 $ 5,565,822.33 $ 24,728,705.89 $ 18,794,287.56 $ 18,761,334.33 $ (32,953.23) $ 0% 88,073,763.54 $ 91,684,537.30 $ 3,610,773.76 $ 4% Excise Tax 125,708.33 $ 2,584,807.79 $ 13,657,549.51 $ - $ - $ - $ 20,545.00 $ 435,179.29 $ 1,733,804.57 $ 146,253.33 $ 3,019,987.08 $ 2,873,733.75 $ 1965% 981,881.42 $ 15,391,354.08 $ 14,409,472.66 $ 1468% Entertainment Tax - $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - $ 0% - $ - $ - $ 0% Franchise Fee 176,328.24 $ - $ 353,858.21 $ - $ - $ - $ - $ - $ - $ 176,328.24 $ - $ (176,328.24) $ -100% 364,612.26 $ 353,858.21 $ (10,754.05) $ -3% Miscellaneous, Photo Copy, Etc. 5,757.50 $ 4,040.50 $ 17,354.24 $ - $ - $ - $ 2,304.00 $ 2,365.48 $ 7,912.48 $ 8,061.50 $ 6,405.98 $ (1,655.52) $ -21% 27,157.00 $ 25,266.72 $ (1,890.28) $ -7% Environmental Infrastructure Impact Fee 85% 340,637.50 $ 675,155.00 $ 1,792,955.58 $ 2,443.75 $ - $ 7,247.95 $ - $ - $ - $ 343,081.25 $ 675,155.00 $ 332,073.75 $ 97% 1,142,405.95 $ 1,800,203.53 $ 657,797.58 $ 58% Total Other General Fund Taxes 13,435,907.80 15,028,950.06 77,051,241.48 725,295.17 1,430,565.23 5,733,555.42 5,306,808.91 6,003,367.10 26,470,422.94 19,468,011.88 22,462,882.39 2,994,870.51 $ 15% 90,589,820.17 109,255,219.84 18,665,399.67 21% 26,184,486.67 36,306,440.74 198,861,881.87 1,033,764.37 2,091,376.98 8,926,930.35 12,773,980.35 12,234,423.64 70,983,750.35 39,992,231.39 50,632,241.36 10,640,009.97 $ 27% 251,539,799.00 278,772,562.57 27,232,763.57 11% Special Funds Fuel Tax (Transportation Fund/WAPA Instructure)*** 186,305.42 $ 186,935.70 $ 1,079,552.77 $ 7,560.00 $ - $ 23,520.00 $ 191,548.46 $ 212,942.24 $ 771,081.08 $ 385,413.88 $ 399,877.94 $ 14,464.06 $ 4% 1,722,021.47 $ 1,874,153.85 $ 152,132.38 $ 9% Highway Users' Tax (Transportation Fund) 216,886.72 $ 186,408.16 $ 783,371.20 $ 37,326.24 $ 39,390.56 $ 194,211.52 $ 216,907.71 $ 142,552.92 $ 785,739.96 $ 471,120.67 $ 368,351.64 $ (102,769.03) $ -22% 2,065,719.59 $ 1,763,322.68 $ (302,396.91) $ -15% Hotel Room Tax 1,050,358.57 $ 3,525,256.93 $ 11,753,063.64 $ 563,568.95 $ 1,138,594.80 $ 3,174,992.86 $ 245,984.88 $ 444,246.28 $ 1,735,089.70 $ 1,859,912.40 $ 5,108,098.01 $ 3,248,185.61 $ 175% 7,002,096.78 $ 16,663,146.20 $ 9,661,049.42 $ 138% Environmental Infrastructure Impact Fee 15% 60,112.50 $ 119,145.00 $ 316,403.93 $ 431.25 $ - $ 1,279.05 $ - $ - $ - $ 60,543.75 $ 119,145.00 $ 58,601.25 $ 97% 201,601.05 $ 317,682.98 $ 116,081.93 $ 58% Gross Casino (Casino Revenue Fund) - $ - $ - $ - $ - $ - $ 176,987.00 $ 143,956.08 $ 1,090,179.07 $ 176,987.00 $ 143,956.08 $ (33,030.92) $ -19% 852,580.41 $ 1,090,179.07 $ 237,598.66 $ 28% Racino - $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - $ 0% - $ - $ - $ 0% Lonesome Dove Fund - $ - $ 315,000.00 $ - $ - $ - $ - $ - $ - $ - $ - $ - $ 0% 325,000.00 $ 315,000.00 $ (10,000.00) $ -3% Arbitration Deposit - $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - $ 0% - $ - $ - $ 0% - $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - $ 0% - $ - $ - $ 0% Production Tax - $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - $ 0% - $ - $ - $ 0% Vehicle Rental Surcharge (VI Education Initiative Fund) 73,093.28 $ 111,380.64 $ 343,806.24 $ 31,361.25 $ 33,153.50 $ 161,419.26 $ 142,601.25 $ 129,221.00 $ 588,386.75 $ 247,055.78 $ 273,755.14 $ 26,699.36 $ 11% 862,141.21 $ 1,093,612.25 $ 231,471.04 $ 27% Investment Alternative Tax - $ - $ - $ - $ - $ - $ - $ - $ 74,853.68 $ - $ - $ - $ 0% 45,279.72 $ 74,853.68 $ 29,573.96 $ 65% Total Special Funds Revenue 1,586,756.49 4,129,126.43 14,591,197.78 640,247.69 1,211,138.86 3,555,422.69 974,029.30 1,072,918.52 5,045,330.24 3,201,033.48 6,413,183.81 3,212,150.33 $ 100% 13,076,440.23 23,191,950.71 10,115,510.48 77% TOTAL MONTHLY REVENUE COLLECTIONS 27,771,243.16 $ 40,435,567.17 $ 213,453,079.64 $ 1,674,012.06 $ 3,302,515.84 $ 12,482,353.04 $ 13,748,009.65 $ 13,307,342.16 $ 76,029,080.59 $ 43,193,264.87 $ 57,045,425.17 $ 13,852,160.30 $ 32% 264,616,239.23 $ 301,964,513.27 $ 37,348,274.04 $ 14% Total of All Islands Class of Tax Total General Fund Revenue St. Thomas St. John St. Croix