December 2019

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

Download the original document · Plain text (TXT) · Browse the archive · How this archive works

Original source: https://bir.vi.gov/content/reports/fiscal%20year%202020/2019-12.pdf

SHA-256 fc194bdd2f5a511bbb60c0581d89059af90d843f82a1252f8f02b937c7df4b49

Re-using this document

RIGHTS UNSTATED (territorial): a V.I. executive-branch agency with no terms page, so 17 USC 105 does not apply and this publishes as a territorial public record (H11)

Our description, tagging, arrangement, extracted text and machine transcripts are released under CC0 1.0. We assert nothing about the document itself.

Archive identifier LF-fc194bdd2f5a

Document text

BUREAU OF INTERNAL REVENUE FISCAL YEAR 2020 DECEMBER 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 % Dec-18 Dec-19 Dec-19 Dec-18 Dec-19 Dec-19 Dec-18 Dec-19 Dec-19 Dec-18 Dec-19 Difference INC/DEC Dec-18 Dec-19 Difference INC/DEC Individual Income 596,046.57 $ 620,567.40 $ 10,044,742.21 $ 16,049.41 $ 5,008.56 $ 212,013.41 $ 553,278.37 $ 481,808.15 $ 4,463,286.53 $ 1,165,374.35 $ 1,107,384.11 $ (57,990.24) $ -5% 23,181,482.19 $ 14,720,042.15 $ (8,461,440.04) $ -37% Estimated Tax 1,653,487.00 $ 3,040,195.40 $ 4,977,763.12 $ 74,263.00 $ 88,077.27 $ 139,777.27 $ 558,414.00 $ 678,838.70 $ 2,207,558.70 $ 2,286,164.00 $ 3,807,111.37 $ 1,520,947.37 $ 67% 4,437,760.80 $ 7,325,099.09 $ 2,887,338.29 $ 65% Withholding Tax 9,169,562.06 $ 11,906,666.94 $ 35,451,044.20 $ 223,256.26 $ 284,144.64 $ 811,986.18 $ 4,828,534.56 $ 8,876,665.71 $ 26,405,153.10 $ 14,221,352.88 $ 21,067,477.29 $ 6,846,124.41 $ 48% 45,364,368.35 $ 62,668,183.48 $ 17,303,815.13 $ 38% Individual Extension - $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - $ 0% - $ - $ - $ 0% Military (Riemb) - $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - $ 0% - $ - $ - $ 0% Individual Income Tax Sub-Total 11,419,095.63 15,567,429.74 50,473,549.53 313,568.67 377,230.47 1,163,776.86 5,940,226.93 10,037,312.56 33,075,998.33 17,672,891.23 25,981,972.77 8,309,081.54 $ 47% 72,983,611.34 84,713,324.72 11,729,713.38 16% Corporate Income 504,269.98 $ 3,285,010.10 $ 4,314,220.84 $ 32,486.00 $ 1,228.52 $ 1,228.52 $ 225,929.95 $ 600,170.00 $ 2,724,987.68 $ 762,685.93 $ 3,886,408.62 $ 3,123,722.69 $ 410% 3,496,952.34 $ 7,040,437.04 $ 3,543,484.70 $ 101% Corporate Estimated 5,372,078.56 $ 2,083,847.39 $ 2,558,390.39 $ - $ - $ - $ 1,848,558.00 $ 2,726,301.00 $ 2,821,301.00 $ 7,220,636.56 $ 4,810,148.39 $ (2,410,488.17) $ -33% 9,074,785.56 $ 5,379,691.39 $ (3,695,094.17) $ -41% Corporate Extension 147,129.00 $ 37,000.00 $ 37,000.00 $ - $ - $ - $ 7,500.00 $ 24,000.00 $ 24,000.00 $ 154,629.00 $ 61,000.00 $ (93,629.00) $ -61% 186,099.64 $ 61,000.00 $ (125,099.64) $ -67% Corporate Income Tax Sub-Total 6,023,477.54 5,405,857.49 6,909,611.23 32,486.00 1,228.52 1,228.52 2,081,987.95 3,350,471.00 5,570,288.68 8,137,951.49 8,757,557.01 619,605.52 $ 8% 12,757,837.54 12,481,128.43 (276,709.11) $ -2% Total Income Taxes 17,442,573.17 20,973,287.23 57,383,160.76 346,054.67 378,458.99 1,165,005.38 8,022,214.88 13,387,783.56 38,646,287.01 25,810,842.72 34,739,529.78 8,928,687.06 $ 35% 85,741,448.88 97,194,453.15 11,453,004.27 13% Gross Receipts Tax* ` 10,684,452.53 $ 10,487,483.45 $ 30,386,514.96 $ 500,527.28 $ 521,214.93 $ 1,425,617.31 $ 5,055,348.97 $ 6,542,077.40 $ 24,902,675.61 $ 16,240,328.78 $ 17,550,775.78 $ 1,310,447.00 $ 8% 53,083,873.07 $ 56,714,807.88 $ 3,630,934.81 $ 7% Excise Tax 545,005.54 $ 125,022.37 $ 470,745.53 $ - $ - $ 333.00 $ 65,032.62 $ 27,679.11 $ 93,776.71 $ 610,038.16 $ 152,701.48 $ (457,336.68) $ -75% 9,030,100.57 $ 564,855.24 $ (8,465,245.33) $ -94% Entertainment Tax - $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - $ 0% - $ - $ - $ 0% Franchise Fee 150,569.45 $ - $ 186,622.50 $ - $ - $ - $ - $ - $ - $ 150,569.45 $ - $ (150,569.45) $ -100% 150,569.45 $ 186,622.50 $ 36,053.05 $ 24% Miscellaneous, Photo Copy, Etc. 2,693.50 $ 6,375.00 $ 19,946.00 $ - $ - $ - $ 2,514.84 $ 1,305.00 $ 3,158.00 $ 5,208.34 $ 7,680.00 $ 2,471.66 $ 47% 24,620.87 $ 23,104.00 $ (1,516.87) $ -6% Environmental Infrastructure Impact Fee 85% 262,675.00 $ 166,621.25 $ 784,210.00 $ 2,725.00 $ - $ 2,741.25 $ 185.50 $ 2,082.50 $ 57,120.00 $ 265,585.50 $ 168,703.75 $ (96,881.75) $ 0% 481,985.73 $ 844,071.25 $ 362,085.53 $ 75% Total Other General Fund Taxes 11,645,396.02 10,785,502.07 31,848,038.99 503,252.28 521,214.93 1,428,691.56 5,123,081.93 6,573,144.01 25,056,730.32 17,271,730.23 17,879,861.01 608,130.78 $ 4% 62,771,149.69 58,333,460.87 (4,437,688.82) $ -7% 29,087,969.19 31,758,789.30 89,231,199.75 849,306.95 899,673.92 2,593,696.94 13,145,296.81 19,960,927.57 63,703,017.33 43,082,572.95 52,619,390.79 9,536,817.84 $ 22% 148,512,598.57 155,527,914.02 7,015,315.46 5% Special Funds Fuel Tax (Transportation Fund/WAPA Instructure)*** 321,059.19 $ 165,762.75 $ 483,316.82 $ - $ 21,782.04 $ 46,982.04 $ 391,132.72 $ - $ 611,637.38 $ 712,191.91 $ 187,544.79 $ (524,647.12) $ -74% 1,489,359.64 $ 1,141,936.24 $ (347,423.40) $ -23% Highway Users' Tax (Transportation Fund) 247,363.84 $ 252,524.48 $ 628,930.24 $ 27,982.40 $ 32,454.00 $ 62,929.04 $ 260,339.62 $ 325,619.36 $ 904,400.20 $ 535,685.86 $ 610,597.84 $ 74,911.98 $ 14% 1,712,957.14 $ 1,596,259.48 $ (116,697.66) $ -7% Hotel Room Tax 702,367.18 $ 644,184.27 $ 2,696,256.43 $ 225,943.35 $ 110,252.93 $ 268,922.17 $ 330,528.23 $ 317,411.21 $ 924,822.79 $ 1,258,838.76 $ 1,071,848.41 $ (186,990.35) $ -15% 3,309,107.06 $ 3,890,001.39 $ 580,894.33 $ 18% Environmental Infrastructure Impact Fee 15% - $ 29,403.75 $ 138,390.00 $ - $ - $ 483.75 $ - $ 367.50 $ 10,080.00 $ - $ 29,771.25 $ 29,771.25 $ 0% 38,188.28 $ 148,953.75 $ 110,765.48 $ 290% Gross Casino (Casino Revenue Fund) - $ - $ - $ - $ - $ - $ 140,237.14 $ 173,246.44 $ 534,762.71 $ 140,237.14 $ 173,246.44 $ 33,009.30 $ 24% 511,218.44 $ 534,762.71 $ 23,544.27 $ 5% Racino - $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - $ 0% - $ - $ - $ 0% Lonesome Dove Fund - $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - $ #DIV/0! 75,000.00 $ - $ (75,000.00) $ -100% Arbitration Deposit - $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - $ 0% - $ - $ - $ 0% - $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - $ 0% - $ - $ - $ 0% Production Tax - $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - $ 0% - $ - $ - $ 0% Vehicle Rental Surcharge (VI Education Initiative Fund) 28,947.22 $ 46,129.06 $ 114,739.84 $ 12,821.25 $ 43,661.33 $ 66,765.08 $ 175,803.75 $ 90,727.50 $ 376,863.75 $ 217,572.22 $ 180,517.89 $ (37,054.33) $ -17% 660,192.02 $ 558,368.67 $ (101,823.35) $ -15% Investment Alternative Tax - $ - $ - $ - $ - $ - $ - $ - $ 36,835.89 $ - $ - $ - $ #DIV/0! 10,480.65 $ 36,835.89 $ 26,355.24 $ 251% Total Special Funds Revenue 1,299,737.43 1,138,004.31 4,061,633.33 266,747.00 208,150.31 446,082.09 1,298,041.46 907,372.01 3,399,402.72 2,864,525.89 2,253,526.63 (610,999.26) $ -21% 7,806,503.23 7,907,118.14 100,614.92 1% TOTAL MONTHLY REVENUE COLLECTIONS 30,387,706.62 $ 32,896,793.61 $ 93,292,833.08 $ 1,116,053.95 $ 1,107,824.23 $ 3,039,779.03 $ 14,443,338.27 $ 20,868,299.58 $ 67,102,420.05 $ 45,947,098.84 $ 54,872,917.42 $ 8,925,818.58 $ 19% 156,319,101.79 $ 163,435,032.16 $ 7,115,930.37 $ 5% Total of All Islands Class of Tax Total General Fund Revenue St. Thomas St. John St. Croix