August 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 AUGUST 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 % Aug-21 Aug-22 Aug-22 Aug-21 Aug-22 Aug-22 Aug-21 Aug-22 Aug-22 Aug-21 Aug-22 Difference INC/DEC Aug-21 Aug-22 Difference INC/DEC Individual Income 1,237,460.22 $ 1,698,983.02 $ 43,968,581.47 $ 20,410.11 $ 57,568.02 $ 5,160,067.67 $ 691,331.39 $ 816,548.94 $ 21,517,539.59 $ 1,949,201.72 $ 2,573,099.98 $ 623,898.26 $ 32% 112,531,893.86 $ 70,646,188.73 $ (41,885,705.13) $ -37% Estimated Tax 1,218,766.13 $ 854,662.50 $ 24,310,491.26 $ 83,387.00 $ 150,534.00 $ 2,267,178.00 $ 87,292.75 $ 480,490.00 $ 22,119,230.98 $ 1,389,445.88 $ 1,485,686.50 $ 96,240.62 $ 7% 42,691,116.87 $ 48,696,900.24 $ 6,005,783.37 $ 14% Withholding Tax 10,482,605.13 $ 10,968,495.16 $ 134,620,718.79 $ 286,518.53 $ 324,355.80 $ 3,956,497.07 $ 4,783,333.04 $ 4,545,377.15 $ 55,690,353.81 $ 15,552,456.70 $ 15,838,228.11 $ 285,771.41 $ 2% 193,332,691.44 $ 194,267,569.67 $ 934,878.23 $ 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 12,938,831.48 13,522,140.68 292,813,778.78 390,315.64 532,457.82 15,547,001.74 5,561,957.18 5,842,416.09 113,964,324.08 18,891,104.30 19,897,014.59 1,005,910.29 $ 5% 402,806,024.52 422,325,104.60 19,519,080.08 5% Corporate Income 95,161.17 $ 71,288.63 $ 27,960,256.40 $ - $ - $ 98,459.23 $ 5,212.00 $ 27,553.66 $ 4,406,867.94 $ 100,373.17 $ 98,842.29 $ (1,530.88) $ -2% 18,782,445.88 $ 32,465,583.57 $ 13,683,137.69 $ 73% Corporate Estimated 61,000.00 $ 213,370.00 $ 12,710,695.96 $ - $ - $ 57,763.00 $ 99,000.00 $ 20,000.00 $ 15,109,178.31 $ 160,000.00 $ 233,370.00 $ 73,370.00 $ 46% 13,710,382.56 $ 27,877,637.27 $ 14,167,254.71 $ 103% Corporate Extension - $ 18,162.00 $ 38,481,913.06 $ - $ - $ 64,843.00 $ - $ - $ 4,511,611.00 $ - $ 18,162.00 $ 18,162.00 $ 0% 24,714,191.37 $ 43,058,367.06 $ 18,344,175.69 $ 74% Corporate Income Tax Sub-Total 156,161.17 302,820.63 79,152,865.42 0.00 0.00 221,065.23 104,212.00 47,553.66 24,027,657.25 260,373.17 350,374.29 90,001.12 $ 35% 57,207,019.81 103,401,587.90 46,194,568.09 81% Total Income Taxes 13,094,992.65 13,824,961.31 371,966,644.20 390,315.64 532,457.82 15,768,066.97 5,666,169.18 5,889,969.75 137,991,981.33 19,151,477.47 20,247,388.88 1,095,911.41 $ 6% 460,013,044.33 525,726,692.50 65,713,648.17 14% Gross Receipts Tax* ` 16,585,033.61 $ 12,328,505.57 $ 138,213,850.73 $ 1,186,117.44 $ 1,160,739.55 $ 13,181,948.02 $ 6,294,479.69 $ 5,637,273.73 $ 57,825,601.85 $ 24,065,630.74 $ 19,126,518.85 $ (4,939,111.89) $ -21% 223,503,017.14 $ 209,221,400.60 $ (14,281,616.54) $ -6% Excise Tax 2,186,861.12 $ 2,462,249.78 $ 30,057,159.88 $ - $ 31.00 $ 448.00 $ 640,028.60 $ 340,777.52 $ 3,743,987.15 $ 2,826,889.72 $ 2,803,058.30 $ (23,831.42) $ -1% 16,741,336.64 $ 33,801,595.03 $ 17,060,258.39 $ 102% Entertainment Tax - $ - $ - $ - $ - $ - $ - $ - $ 15,121.81 $ - $ - $ - $ 0% - $ 15,121.81 $ 15,121.81 $ 0% Franchise Fee 177,961.49 $ 170,469.44 $ 799,959.95 $ - $ - $ - $ - $ - $ - $ 177,961.49 $ 170,469.44 $ (7,492.05) $ -4% 726,955.31 $ 799,959.95 $ 73,004.64 $ 10% Miscellaneous, Photo Copy, Etc. 2,832.00 $ 2,898.00 $ 30,070.74 $ - $ - $ - $ 913.00 $ 1,716.00 $ 17,317.54 $ 3,745.00 $ 4,614.00 $ 869.00 $ 23% 52,733.00 $ 47,388.28 $ (5,344.72) $ -10% Environmental Infrastructure Impact Fee 85% 342,660.50 $ 479,527.50 $ 4,537,074.33 $ 3,123.75 $ 3,230.00 $ 24,072.85 $ - $ 48,110.00 $ 48,110.00 $ 345,784.25 $ 530,867.50 $ 185,083.25 $ 54% 3,799,875.70 $ 4,609,257.18 $ 809,381.48 $ 21% Total Other General Fund Taxes 19,295,348.72 15,443,650.29 173,638,115.63 1,189,241.19 1,164,000.55 13,206,468.87 6,935,421.29 6,027,877.25 61,650,138.35 27,420,011.20 22,635,528.09 (4,784,483.11) $ -17% 244,823,917.79 248,494,722.85 3,670,805.05 1% 32,390,341.37 29,268,611.60 545,604,759.83 1,579,556.83 1,696,458.37 28,974,535.84 12,601,590.47 11,917,847.00 199,642,119.68 46,571,488.67 42,882,916.97 (3,688,571.70) $ -8% 704,836,962.12 774,221,415.35 69,384,453.23 10% Special Funds Fuel Tax (Transportation Fund/WAPA Instructure)*** 340,855.75 $ 236,444.00 $ 2,036,581.59 $ 13,440.00 $ - $ 23,520.00 $ 162,919.33 $ 156,175.88 $ 1,886,805.47 $ 517,215.08 $ 392,619.88 $ (124,595.20) $ -24% 4,769,177.67 $ 3,946,907.06 $ (822,270.61) $ -17% Highway Users' Tax (Transportation Fund) 195,045.28 $ 187,894.08 $ 1,812,059.50 $ 38,445.28 $ 16,571.04 $ 399,172.64 $ 173,055.55 $ 127,876.32 $ 1,613,072.48 $ 406,546.11 $ 332,341.44 $ (74,204.67) $ -18% 4,420,527.81 $ 3,824,304.62 $ (596,223.19) $ -13% Hotel Room Tax 1,816,214.80 $ 2,864,206.02 $ 29,290,905.52 $ 707,958.83 $ 747,217.68 $ 8,337,105.01 $ 651,655.49 $ 423,384.53 $ 4,913,687.23 $ 3,175,829.12 $ 4,034,808.23 $ 858,979.11 $ 27% 31,437,512.64 $ 42,541,697.76 $ 11,104,185.12 $ 35% Environmental Infrastructure Impact Fee 15% 60,469.50 $ 84,622.50 $ 800,660.18 $ 551.25 $ 570.00 $ 4,248.15 $ - $ 8,490.00 $ 8,490.00 $ 61,020.75 $ 93,682.50 $ 32,661.75 $ 54% 670,566.30 $ 813,398.33 $ 142,832.03 $ 21% Gross Casino (Casino Revenue Fund) - $ - $ - $ - $ - $ - $ 161,214.18 $ 187,970.70 $ 2,183,607.40 $ 161,214.18 $ 187,970.70 $ 26,756.52 $ 17% 2,012,510.80 $ 2,183,607.40 $ 171,096.60 $ 9% Racino - $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - $ 0% - $ - $ - $ 0% Lonesome Dove Fund - $ 200,000.00 $ 3,490,000.00 $ - $ - $ - $ - $ - $ - $ - $ 200,000.00 $ 200,000.00 $ 0% 950,000.00 $ 3,490,000.00 $ 2,540,000.00 $ 267% Arbitration Deposit - $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - $ 0% - $ - $ - $ 0% - $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - $ 0% - $ - $ - $ 0% Production Tax - $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - $ 0% - $ - $ - $ 0% Vehicle Rental Surcharge (VI Education Initiative Fund) 136,350.00 $ 202,721.85 $ 1,078,339.96 $ 38,502.31 $ 45,986.25 $ 410,895.76 $ 175,197.25 $ 61,365.00 $ 1,119,117.75 $ 350,049.56 $ 310,073.10 $ (39,976.46) $ -11% 2,521,632.36 $ 2,608,353.47 $ 86,721.11 $ 3% Investment Alternative Tax - $ - $ - $ - $ - $ - $ - $ - $ 141,651.75 $ - $ - $ - $ 0% 119,217.25 $ 141,651.75 $ 22,434.50 $ 19% Total Special Funds Revenue 2,548,935.33 3,775,888.45 38,508,546.75 798,897.67 810,344.97 9,174,941.56 1,324,041.80 965,262.43 11,866,432.08 4,671,874.80 5,551,495.85 879,621.05 $ 19% 46,901,144.83 59,549,920.39 12,648,775.56 27% TOTAL MONTHLY REVENUE COLLECTIONS 34,939,276.70 $ 33,044,500.05 $ 584,113,306.57 $ 2,378,454.50 $ 2,506,803.34 $ 38,149,477.40 $ 13,925,632.27 $ 12,883,109.43 $ 211,508,551.76 $ 51,243,363.47 $ 48,434,412.82 $ (2,808,950.65) $ -5% 751,738,106.95 $ 833,771,335.73 $ 82,033,228.78 $ 11% Total of All Islands Class of Tax Total General Fund Revenue St. Thomas St. John St. Croix