March 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 MARCH 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 % Mar-21 Mar-22 Mar-22 Mar-21 Mar-22 Mar-22 Mar-21 Mar-22 Mar-22 Mar-21 Mar-22 Difference INC/DEC Mar-21 Mar-22 Difference INC/DEC Individual Income 13,986,699.32 $ 2,746,778.85 $ 18,229,510.83 $ 287,534.67 $ 344,038.40 $ 780,296.27 $ 1,652,989.30 $ 1,822,811.91 $ 6,730,199.27 $ 15,927,223.29 $ 4,913,629.16 $ (11,013,594.13) $ -69% 49,911,532.11 $ 25,740,006.37 $ (24,171,525.74) $ -48% Estimated Tax 251,726.70 $ 330,165.00 $ 14,461,904.79 $ 25,700.00 $ 89,393.00 $ 1,044,198.00 $ 317,133.00 $ 170,004.35 $ 7,060,331.77 $ 594,559.70 $ 589,562.35 $ (4,997.35) $ -1% 24,676,084.54 $ 22,566,434.56 $ (2,109,649.98) $ -9% Withholding Tax 10,869,815.16 $ 14,193,981.62 $ 75,713,348.86 $ 262,193.94 $ 357,573.16 $ 2,128,750.92 $ 8,907,096.97 $ 6,173,045.12 $ 32,212,757.96 $ 20,039,106.07 $ 20,724,599.90 $ 685,493.83 $ 3% 106,286,971.03 $ 110,054,857.74 $ 3,767,886.71 $ 4% Individual Extension 291,293.00 $ 495,050.00 $ 3,195,050.00 $ - $ 82,835.00 $ 82,835.00 $ 29,000.00 $ 9,010.00 $ 9,010.00 $ 320,293.00 $ 586,895.00 $ 266,602.00 $ 83% 346,707.00 $ 3,286,895.00 $ 2,940,188.00 $ 848% Military (Riemb) - $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - $ 0% - $ - $ - $ 0% Individual Income Tax Sub-Total 25,399,534.18 17,765,975.47 111,599,814.48 575,428.61 873,839.56 4,036,080.19 10,906,219.27 8,174,871.38 46,012,299.00 36,881,182.06 26,814,686.41 (10,066,495.65) $ -27% 181,221,294.68 161,648,193.67 19,573,101.01 -11% Corporate Income 2,160,971.89 $ 411,104.36 $ 21,062,502.74 $ - $ 11,907.77 $ 32,326.07 $ 295,543.88 $ 245,958.18 $ 1,251,898.97 $ 2,456,515.77 $ 668,970.31 $ (1,787,545.46) $ -73% 10,452,513.98 $ 22,346,727.78 $ 11,894,213.80 $ 114% Corporate Estimated 883,924.42 $ 1,028,209.40 $ 6,434,655.40 $ - $ - $ 10,716.00 $ 25,076.00 $ 14,894.00 $ 5,684,753.00 $ 909,000.42 $ 1,043,103.40 $ 134,102.98 $ 15% 6,744,168.42 $ 12,130,124.40 $ 5,385,955.98 $ 80% Corporate Extension 523,913.57 $ 2,384,084.00 $ 4,303,041.00 $ 10.00 $ 38,843.00 $ 38,843.00 $ 197,758.00 $ 75,000.00 $ 75,100.00 $ 721,681.57 $ 2,497,927.00 $ 1,776,245.43 $ 246% 3,500,381.57 $ 4,416,984.00 $ 916,602.43 $ 26% Corporate Income Tax Sub-Total 3,568,809.88 3,823,397.76 31,800,199.14 10.00 50,750.77 81,885.07 518,377.88 335,852.18 7,011,751.97 4,087,197.76 4,210,000.71 122,802.95 $ 3% 20,697,063.97 38,893,836.18 18,196,772.21 88% Total Income Taxes 28,968,344.06 21,589,373.23 143,400,013.62 575,438.61 924,590.33 4,117,965.26 11,424,597.15 8,510,723.56 53,024,050.97 40,968,379.82 31,024,687.12 (9,943,692.70) $ -24% 201,918,358.65 200,542,029.85 1,376,328.80 -1% Gross Receipts Tax* ` 12,480,372.58 $ 11,429,747.84 $ 72,659,271.78 $ 890,717.04 $ 1,395,971.87 $ 7,122,279.34 $ 7,627,963.48 $ 5,330,478.00 $ 30,059,183.89 $ 20,999,053.10 $ 18,156,197.71 $ (2,842,855.39) $ -14% 109,072,816.64 $ 109,840,735.01 $ 767,918.37 $ 1% Excise Tax 765,974.58 $ 2,648,749.66 $ 16,306,299.17 $ - $ 45.00 $ 45.00 $ 65,428.37 $ 359,107.51 $ 2,092,912.08 $ 831,402.95 $ 3,007,902.17 $ 2,176,499.22 $ 262% 1,813,284.37 $ 18,399,256.25 $ 16,585,971.88 $ 915% Entertainment Tax - $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - $ 0% - $ - $ - $ 0% Franchise Fee - $ - $ 353,858.21 $ - $ - $ - $ 1,680.00 $ - $ - $ 1,680.00 $ - $ (1,680.00) $ -100% 366,292.26 $ 353,858.21 $ (12,434.05) $ -3% Miscellaneous, Photo Copy, Etc. 4,273.00 $ 2,415.00 $ 19,769.24 $ - $ - $ - $ 2,032.00 $ 1,212.89 $ 9,125.37 $ 6,305.00 $ 3,627.89 $ (2,677.11) $ -42% 33,462.00 $ 28,894.61 $ (4,567.39) $ -14% Environmental Infrastructure Impact Fee 85% 376,613.75 $ 430,057.50 $ 2,223,013.08 $ - $ 6,284.90 $ 13,532.85 $ - $ - $ - $ 376,613.75 $ 436,342.40 $ 59,728.65 $ 16% 1,519,019.70 $ 2,236,545.93 $ 717,526.23 $ 47% Total Other General Fund Taxes 13,627,233.91 14,510,970.00 91,562,211.48 890,717.04 1,402,301.77 7,135,857.19 7,697,103.85 5,690,798.40 32,161,221.34 22,215,054.80 21,604,070.17 (610,984.63) $ -3% 112,804,874.97 130,859,290.01 18,054,415.04 16% 42,595,577.97 36,100,343.23 234,962,225.10 1,466,155.65 2,326,892.10 11,253,822.45 19,121,701.00 14,201,521.96 85,185,272.31 63,183,434.62 52,628,757.29 (10,554,677.33) $ -17% 314,723,233.62 331,401,319.86 16,678,086.24 5% Special Funds Fuel Tax (Transportation Fund/WAPA Instructure)*** 343,831.74 $ 149,660.00 $ 1,229,212.77 $ 13,440.00 $ - $ 23,520.00 $ 240,563.74 $ 216,163.39 $ 987,244.47 $ 597,835.48 $ 365,823.39 $ (232,012.09) $ -39% 2,319,856.95 $ 2,239,977.24 $ (79,879.71) $ -3% Highway Users' Tax (Transportation Fund) 195,021.92 $ 191,814.40 $ 975,185.60 $ 36,856.64 $ 28,703.04 $ 222,914.56 $ 238,652.96 $ 160,507.36 $ 946,247.32 $ 470,531.52 $ 381,024.80 $ (89,506.72) $ -19% 2,536,251.11 $ 2,144,347.48 $ (391,903.63) $ -15% Hotel Room Tax 3,614,909.34 $ 2,696,243.68 $ 14,449,307.32 $ 563,267.30 $ 990,704.69 $ 4,165,697.55 $ 358,425.27 $ 355,747.89 $ 2,090,837.59 $ 4,536,601.91 $ 4,042,696.26 $ (493,905.65) $ -11% 11,538,698.69 $ 20,705,842.46 $ 9,167,143.77 $ 79% Environmental Infrastructure Impact Fee 15% 66,461.25 $ 75,892.50 $ 392,296.43 $ - $ 1,109.10 $ 2,388.15 $ - $ - $ - $ 66,461.25 $ 77,001.60 $ 10,540.35 $ 16% 268,062.30 $ 394,684.58 $ 126,622.28 $ 47% Gross Casino (Casino Revenue Fund) - $ - $ - $ - $ - $ - $ 165,587.67 $ 198,252.67 $ 1,288,431.74 $ 165,587.67 $ 198,252.67 $ 32,665.00 $ 20% 1,018,168.08 $ 1,288,431.74 $ 270,263.66 $ 27% Racino - $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - $ 0% - $ - $ - $ 0% Lonesome Dove Fund - $ 325,000.00 $ 640,000.00 $ - $ - $ - $ - $ - $ - $ - $ 325,000.00 $ 325,000.00 $ 0% 325,000.00 $ 640,000.00 $ 315,000.00 $ 97% Arbitration Deposit - $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - $ 0% - $ - $ - $ 0% - $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - $ 0% - $ - $ - $ 0% Production Tax - $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - $ 0% - $ - $ - $ 0% Vehicle Rental Surcharge (VI Education Initiative Fund) 14,296.25 $ 102,192.92 $ 445,999.16 $ 36,746.25 $ 45,803.50 $ 207,222.76 $ 139,396.50 $ 147,622.75 $ 736,009.50 $ 190,439.00 $ 295,619.17 $ 105,180.17 $ 55% 1,052,580.21 $ 1,389,231.42 $ 336,651.21 $ 32% Investment Alternative Tax - $ - $ - $ - $ - $ - $ - $ - $ 74,853.68 $ - $ - $ - $ 0% 45,279.72 $ 74,853.68 $ 29,573.96 $ 65% Total Special Funds Revenue 4,234,520.50 3,540,803.50 18,132,001.28 650,310.19 1,066,320.33 4,621,743.02 1,142,626.14 1,078,294.06 6,123,624.30 6,027,456.83 5,685,417.89 (342,038.94) $ -6% 19,103,897.06 28,877,368.60 9,773,471.54 51% TOTAL MONTHLY REVENUE COLLECTIONS 46,830,098.47 $ 39,641,146.73 $ 253,094,226.37 $ 2,116,465.84 $ 3,393,212.43 $ 15,875,565.47 $ 20,264,327.14 $ 15,279,816.02 $ 91,308,896.61 $ 69,210,891.45 $ 58,314,175.18 $ (10,896,716.27) $ -16% 333,827,130.68 $ 360,278,688.45 $ 26,451,557.77 $ 8% Total of All Islands Class of Tax Total General Fund Revenue St. Thomas St. John St. Croix