POSTED: 5:00 p.m. HST, Feb 1, 2011
State revenues are down 2.8 percent for the first half of the fiscal year, the state Tax Department reported.
The department said that was largely due to the release of accrued income tax refunds in July 2010, the first month of the fiscal year. If those refunds are factored out, general fund deposits are up 6.3 percent for the six-month period that ended Dec. 31.
General excise and use taxes are up 5.6 percent over this time last fiscal year, while hotel room tax revenues are up 17.7 percent, from $109 million to $128.3 million.