Tuesday, January 16, 2001
home page local news opinion business island life sports
Search
AP National & International News
Weather
Traffic Hotspots
Obituaries
School Calendar
E-The People
Email Lawmakers
Advertising
Classified Ads
Jobs
Homes
Restaurant Guide
Business Directory
Cars

Posted on: Tuesday, January 16, 2001

December state tax collection rises 5.3%


By Lynda Arakawa
Advertiser Capitol Bureau

The state collected $231.5 million in tax revenue last month, an increase of 5.3 percent, or $11.6 million, over the previous December, the state Department of Taxation reported this month.

That brings total tax revenues collected in the current fiscal year, which began in July, to $1.5 billion, an increase of 6.7 percent, or $95.3 million, over the same period the previous fiscal year.

For the year, the state Council on Revenues has projected a 6 percent increase in revenues deposited to the state general fund. That means the state would take in about $180 million more this year than last.

December tax revenues rose largely because of corporate income tax collections, which increased by $9.8 million, reflecting a $9.3 million drop in corporate refunds, according to the Tax Department.

General fund deposits from individual income taxes went up by $5.5 million, primarily because of a $4.3 million increase in taxes withheld on wages and a nearly $1 million drop in individual income tax refunds.

General excise and use tax collections, the state’s largest revenue source, increased just slightly, by $100,000.

However, the "all others" category fell by $5.5 million last month compared with the previous December, partly because of the $2.9 million drop in estate tax revenues.

[back to top]

Home | Local News | Opinion | Business | Island Life | Sports
Weather | Traffic Hotspots | Obituaries | School Calendar | Email Lawmakers
How to Subscribe | How to Advertise | Site Map | Terms of Service | Corrections

© COPYRIGHT 2001 The Honolulu Advertiser, a division of Gannett Co. Inc.