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The Honolulu Advertiser
Posted on: Monday, November 9, 2009

Hawaii’s tax revenue down 11 percent for first four months of fiscal year


Associated Press

HONOLULU — Hawaii’s tax revenues for the first four months of the current fiscal year are running just under 11 percent behind the same time period last fiscal year.

The Department of Taxation reported Monday that the state collected $326.1 million in taxes in October, raising the four-month tally to $1.3 billion.
The largest single category of collections — general excise and use taxes — amounted to $180 million last month. That upped the year-to-date take to $757.8 million, for a 12.9 percent decline.
The hotel room tax generated about $13.6 million in October, helping to account for a 12.9 percent decrease for the July-through-October period.
Individual income tax collections fell 9.6 percent in the four-month period, as corporate income tax collections plummeted 38.3 percent.