January 2023

Collection: Government Financials
Sub-shelf: BIR Tax Collection Reports
Kind: Financial Report
Date: 2023
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%202023/2023-01.pdf

SHA-256 feaf0a26b67f5dd07ebed767a519c157fd275813d884b7a4e31106e120ad2ad4

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-feaf0a26b67f

Document text

BUREAU OF INTERNAL REVENUE FISCAL YEAR 2023 JANUARY MONTHLY COLLECTION REPORT Collection Collection Cummulative Collection Collection Cummulative Collection Collection Cummulative Collection Collection Collection Cummulative Cummulative Cummulative FY 2022 FY 2023 FY 2023 FY 2022 FY 2023 FY 2023 FY 2022 FY 2023 FY 2023 FY 2022 FY 2023 FY 2022 & FY 2023 % FY 2022 FY 2023 FY 2022 & FY 2023 % Jan-22 Jan-23 Jan-23 Jan-22 Jan-23 Jan-23 Jan-22 Jan-23 Jan-23 Jan-22 Jan-23 Difference INC/DEC Jan-22 Jan-23 Difference INC/DEC Individual Income 3,546,472.96 $ 1,122,934.04 $ 23,678,878.37 $ 29,276.24 $ 15,072.92 $ 327,628.15 $ 429,311.75 $ 596,470.59 $ 5,561,957.01 $ 4,005,060.95 $ 1,734,477.55 $ (2,270,583.40) $ -57% 18,513,823.33 $ 29,568,463.53 $ 11,054,640.20 $ 60% Estimated Tax 10,627,441.39 $ 11,842,214.22 $ 17,436,752.67 $ 789,054.00 $ 1,024,852.00 $ 1,265,954.00 $ 5,145,012.42 $ 6,961,443.74 $ 9,249,927.13 $ 16,561,507.81 $ 19,828,509.96 $ 3,267,002.15 $ 20% 21,437,773.21 $ 27,952,633.80 $ 6,514,860.59 $ 30% Withholding Tax 9,068,329.94 $ 12,684,215.82 $ 53,751,758.31 $ 464,760.22 $ 566,037.83 $ 1,513,259.08 $ 5,267,779.84 $ 6,257,809.30 $ 18,408,451.94 $ 14,800,870.00 $ 19,508,062.95 $ 4,707,192.95 $ 32% 68,844,095.98 $ 73,673,469.33 $ 4,829,373.35 $ 7% Individual Extension - $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - $ 0% - $ - $ - $ 0% Military (Riemb) - $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - $ 0% - $ - $ - $ 0% Individual Income Tax Sub-Total 23,242,244.29 25,649,364.08 94,867,389.35 1,283,090.46 1,605,962.75 3,106,841.23 10,842,104.01 13,815,723.63 33,220,336.08 35,367,438.76 41,071,050.46 5,703,611.70 $ 16% 108,795,692.52 131,194,566.66 22,398,874.14 21% Corporate Income 5,712,087.51 $ 143,659.50 $ 4,815,699.81 $ 1,774.30 $ - $ - $ 418,225.81 $ 51,336.90 $ 206,221.56 $ 6,132,087.62 $ 194,996.40 $ (5,937,091.22) $ -97% 21,002,313.24 $ 5,021,921.37 $ (15,980,391.87) $ -76% Corporate Estimated 1,276,234.00 $ 4,033,499.00 $ 7,627,187.00 $ - $ - $ 14,119.00 $ 840,085.00 $ 250,390.00 $ 3,699,892.00 $ 2,116,319.00 $ 4,283,889.00 $ 2,167,570.00 $ 102% 9,631,021.00 $ 11,341,198.00 $ 1,710,177.00 $ 18% Corporate Extension 379,668.00 $ 318,152.00 $ 825,442.00 $ - $ - $ - $ - $ - $ - $ 379,668.00 $ 318,152.00 $ (61,516.00) $ -16% 1,918,957.00 $ 825,442.00 $ (1,093,515.00) $ -57% Corporate Income Tax Sub-Total 7,367,989.51 4,495,310.50 13,268,328.81 1,774.30 0.00 14,119.00 1,258,310.81 301,726.90 3,906,113.56 8,628,074.62 4,797,037.40 (3,831,037.22) $ -44% 32,552,291.24 17,188,561.37 15,363,729.87 -47% Total Income Taxes 30,610,233.80 30,144,674.58 108,135,718.16 1,284,864.76 1,605,962.75 3,120,960.23 12,100,414.82 14,117,450.53 37,126,449.64 43,995,513.38 45,868,087.86 1,872,574.48 $ 4% 141,347,983.76 148,383,128.03 7,035,144.27 5% Gross Receipts Tax* ` 12,262,027.05 $ 13,134,832.40 $ 44,202,780.07 $ 1,744,888.03 $ 1,251,672.27 $ 3,468,784.79 $ 5,482,211.70 $ 5,738,958.69 $ 19,682,738.93 $ 19,489,126.78 $ 20,125,463.36 $ 636,336.58 $ 3% 72,923,202.97 $ 67,354,303.79 $ (5,568,899.18) $ -8% Excise Tax 2,155,799.69 $ 2,770,013.38 $ 11,471,329.42 $ - $ 22.00 $ 85.00 $ 249,259.70 $ 279,340.50 $ 1,177,606.87 $ 2,405,059.39 $ 3,049,375.88 $ 644,316.49 $ 27% 12,371,367.00 $ 12,649,021.29 $ 277,654.29 $ 2% Entertainment Tax - $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - $ 0% - $ - $ - $ 0% Franchise Fee 173,699.31 $ - $ 165,252.70 $ - $ - $ - $ - $ - $ - $ 173,699.31 $ - $ (173,699.31) $ -100% 353,858.21 $ 165,252.70 $ (188,605.51) $ -53% Miscellaneous, Photo Copy, Etc. 2,867.50 $ 2,554.00 $ 8,833.00 $ - $ - $ - $ 1,262.00 $ 989.50 $ 4,354.50 $ 4,129.50 $ 3,543.50 $ (586.00) $ -14% 18,860.74 $ 13,187.50 $ (5,673.24) $ -30% Environmental Infrastructure Impact Fee 85% 136,850.00 $ 85,191.25 $ 991,270.03 $ 4,719.20 $ - $ 2,082.50 $ - $ - $ - $ 141,569.20 $ 85,191.25 $ (56,377.95) $ -40% 1,125,048.53 $ 993,352.53 $ (131,695.99) $ -12% Total Other General Fund Taxes 14,731,243.55 15,992,591.03 56,839,465.22 1,749,607.23 1,251,694.27 3,470,952.29 5,732,733.40 6,019,288.69 20,864,700.30 22,213,584.18 23,263,573.99 1,049,989.81 $ 5% 86,792,337.45 81,175,117.81 5,617,219.63 -6% 45,341,477.35 46,137,265.61 164,975,183.38 3,034,471.99 2,857,657.02 6,591,912.52 17,833,148.22 20,136,739.22 57,991,149.94 66,209,097.56 69,131,661.85 2,922,564.29 $ 4% 228,140,321.21 229,558,245.84 1,417,924.64 1% Special Funds Fuel Tax (Transportation Fund/WAPA Instructure)*** 400,167.07 $ 154,174.02 $ 621,665.10 $ - $ - $ - $ 178,640.98 $ 336,301.59 $ 745,025.29 $ 578,808.05 $ 490,475.61 $ (88,332.44) $ -15% 1,474,275.91 $ 1,366,690.39 $ (107,585.52) $ -7% Highway Users' Tax (Transportation Fund) 119,287.04 $ 217,331.08 $ 757,994.60 $ 37,446.72 $ 23,404.32 $ 88,213.12 $ 174,521.76 $ 144,479.04 $ 555,221.76 $ 331,255.52 $ 385,214.44 $ 53,958.92 $ 16% 1,394,971.04 $ 1,401,429.48 $ 6,458.44 $ 0% Hotel Room Tax 2,394,507.31 $ 2,660,679.03 $ 7,024,822.27 $ 892,145.58 $ 645,459.18 $ 1,446,611.56 $ 606,502.41 $ 503,869.68 $ 1,145,449.37 $ 3,893,155.30 $ 3,810,007.89 $ (83,147.41) $ -2% 11,555,048.19 $ 9,616,883.20 $ (1,938,164.99) $ -17% Environmental Infrastructure Impact Fee 15% 24,150.00 $ 15,033.75 $ 174,930.01 $ 832.80 $ - $ 367.50 $ - $ - $ - $ 24,982.80 $ 15,033.75 $ (9,949.05) $ -40% 198,537.98 $ 175,297.51 $ (23,240.47) $ -12% Gross Casino (Casino Revenue Fund) - $ - $ - $ - $ - $ - $ 199,305.45 $ 227,750.76 $ 757,093.23 $ 199,305.45 $ 227,750.76 $ 28,445.31 $ 14% 946,222.99 $ 757,093.23 $ (189,129.76) $ -20% Racino - $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - $ 0% - $ - $ - $ 0% Lonesome Dove Fund - $ - $ 1,225,000.00 $ - $ - $ - $ - $ - $ - $ - $ - $ - $ 0% 315,000.00 $ 1,225,000.00 $ 910,000.00 $ 289% Arbitration Deposit - $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - $ 0% - $ - $ - $ 0% - $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - $ 0% - $ - $ - $ 0% Production Tax - $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - $ 0% - $ - $ - $ 0% Vehicle Rental Surcharge (VI Education Initiative Fund) 52,024.42 $ 107,897.38 $ 327,731.71 $ 44,230.16 $ 42,200.00 $ 107,874.00 $ 117,802.50 $ 69,723.75 $ 206,973.75 $ 214,057.08 $ 219,821.13 $ 5,764.05 $ 3% 819,857.11 $ 642,579.46 $ (177,277.65) $ -22% Investment Alternative Tax - $ - $ - $ - $ - $ - $ 37,270.38 $ 29,199.80 $ 59,261.77 $ 37,270.38 $ 29,199.80 $ (8,070.58) $ -22% 74,853.68 $ 59,261.77 $ (15,591.91) $ -21% Total Special Funds Revenue 2,990,135.84 3,155,115.26 10,132,143.69 974,655.26 711,063.50 1,643,066.18 1,314,043.48 1,311,324.62 3,469,025.17 5,278,834.58 5,177,503.38 (101,331.20) $ -2% 16,778,766.90 15,244,235.04 1,534,531.86 -9% TOTAL MONTHLY REVENUE COLLECTIONS 48,331,613.19 $ 49,292,380.87 $ 175,107,327.07 $ 4,009,127.25 $ 3,568,720.52 $ 8,234,978.70 $ 19,147,191.70 $ 21,448,063.84 $ 61,460,175.11 $ 71,487,932.14 $ 74,309,165.23 $ 2,821,233.09 $ 4% 244,919,088.10 $ 244,802,480.88 $ (116,607.22) $ 0% Total of All Islands Class of Tax Total General Fund Revenue St. Thomas St. John St. Croix