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The Honolulu Advertiser
Updated at 6:31 p.m., Wednesday, October 8, 2008

July-to-September state tax revenue up

Advertiser Staff

State tax revenue collections through the first three months of the fiscal year are up 1.7 percent over last year.

The state collected $446.9 million in revenue in September.

General-excise taxes and use taxes, the largest category, are up 1.8 percent over last year. Hotel room tax collections are up 1.6 percent. Individual income tax collections are up 1 percent. And corporate income tax collections are down 37.3 percent.

The state Council on Revenues has predicted 1 percent revenue growth for this fiscal year.

Lower growth projections because of the state's slowing economy have the state anticipating a deficit by the end of the fiscal year if spending cuts are not made.