State tax revenues up 12.7 percent in July

Associated Press

The state started the new fiscal year with a 12.7 percent increase in tax revenues in July, officials said yesterday.

Revenue deposited in the state general fund last month totaled $289.3 million, a $32.7 million increase over July 2001.

The state's largest revenue source — general excise and use taxes — increased $41.1 million.

Tax director Marie Okamura attributed the increase, in part, to a tax law change that allowed some monthly and quarterly taxpayers to file at longer intervals.

The change pushed some of last fiscal year's general excise and use tax revenue into the new fiscal year, Okamura said.

The same filing change was also partly responsible for a 6.6 percent increase in transient accommodation taxes, she said.

Meanwhile, individual income tax collections declined $7 million, and general fund deposits from the "all other" tax category decreased 4.9 percent.