Hawaii general fund tax revenues up 10 percent
HONOLULU (AP) — Hawaii tax revenues deposited in the general fund rose nearly 10 percent during the most recent fiscal year to $5.5 billion.
The state Department of Taxation said Thursday general excise tax revenue rose just over 9 percent to $2.9 billion during the 12 months ended in June.
The increases come as the tourism industry and local economy rebound from the recession.
The department says revenues from the transit accommodations tax imposed on short-term room rentals climbed nearly 14 percent from the previous year to $369 million.
Individual income tax revenue increased nearly 13 percent to $1.7 billion.