Hawaii Tax Collections Up 12.9% in 2012

File photo.

By Sonia Isotov

Ten months into the current 2012 fiscal year, general fund deposits are up by 12.9% compared with the 2011 fiscal year.

General excise and use taxes, the largest single category of collections, were $245.5 million in April.  For the 2012 fiscal year, general excise and use taxes have increased by 8.2% over the previous year.

If the $187.4 million accrued refunds that were released in July 2010 are factored out, general fund deposits would increase by 7.3%.

Transient accommodations tax (TAT) collections were $28.7 million for the month. Compared to the 2011 fiscal year, TAT collections are up by 14.0%.