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The Honolulu Advertiser
Posted on: Thursday, October 9, 2008

State tax receipts up 1.7% over '07

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.