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The Honolulu Advertiser
Posted on: Wednesday, November 19, 2008

State tax take fell 1.4 percent July-October

Advertiser Staff

State tax collections have fallen 1.4 percent through the first four months of this fiscal year compared with last year, according to the state Department of Taxation.

The drop in revenue growth so far is greater than predicted by the state Council on Revenues, which forecast a 0.5 percent decline for the fiscal year that ends next June.

The state reported $383.6 million in revenue collections for October. General excise taxes were at $215.1 million. Individual income taxes were at $133.4 million. Hotel room taxes were at $16.2 million. Corporate income taxes were at $7.4 million.