State Tax Collections Up 12.1%
By Sonia Isotov
Six months into the current fiscal year (2013), general fund deposits are up by 12.1 % compared with the same period in fiscal year 2012, according to preliminary statistics released by the Hawaii Department of Taxation on Monday.
General excise and use taxes, the largest single category of collections, were $224.7 million in December for the state of Hawaii. For the 2013 fiscal year, general excise and use taxes have increased by 11.4% over the previous fiscal year.
Individual income tax collections were $163.2 million for the month and total fiscal year 2012 individual income tax collections were up 14.5% for the first six month.
Transient accommodations tax (TAT) collections were $23.5 million for the month. Compared to fiscal year 2012, TAT collections are up by 13.4%.