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February 28, 2008

Providence Place sales jumped in December

Journal archive photo / Connie Grosch
Fall River high school students take advantage of post-Christmas sales at the Providence Place mall in December.

PROVIDENCE -- Sales tax receipts at Providence Place mall jumped 28.4 percent in December, reaching a record of nearly $2.6 million, according to figures compiled by the state Division of Taxation.

The monthly tax figure bests the previous monthly record of $2 million, set in December 2006.

For the year, stores in Providence Place generated $13,981,625 in sales taxes for the state, also a new record.

The financial and legislative assistance that helped make Providence Place a reality put a unique requirement on the mall: It is the only shopping center in the state that must file sales tax returns.

Because of the way mall stores turn over their sales tax receipts to the state, there is a lag of more than four weeks before the totals can be made public, according to division officials. Consequently, December’s total weren't available until this month.

For more local breaking business news, visit the Biz Blog at projo.com/business.

Posted by Benjamin N. Gedan  at 12:08 PM | Permalink

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