RI Sales, Income Tax Collections Up, Gambling Taxes Down

Dec 3, 2014

Some good news for Rhode Island’s  state budget: income and sales tax receipts are up over last year’s totals.

Gambling revenues were down at both Twin River and Newport Grand (pictured) from the same time last year.
Credit RIPR FILE

That’s the report from the state Department of Revenue comparing state revenues through October with the same period last year. Income tax collections are 3 percent about last year and sales levies are up 4.3 percent, according to data released today.

On a more sober note, state gambling tax collections are down 1.3 percent from the same period last year.

``Monthly cash collections growth moved up solidly in October 2014, especially when compared to the prior two months,’’ said Rosemary Booth Gallogly, state director of revenue.

Sales and income taxes collections were up about $25 million from last year, but lottery collections, which includes the Twin River and Newport Grand gambling venues, was down by about $1.2 million.