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Wednesday, October 01, 2014         

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State tax collections are down in first 11 months of fiscal year

By Star-Advertiser staff

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State tax collections are down 0.8 percent through the first 11 months of the fiscal year, according to the state Department of Taxation.

The decline is influenced by the fact that former Gov. Linda Lingle delayed the release of state income tax refunds last year to help balance the state budget. Without the impact of the delay, revenue collections would be up 3.8 percent over last fiscal year.

The monthly revenue numbers are coming in better than the state Council on Revenues has projected. The council has predicted a 1.6 percent decline for the fiscal year that ends this month.

Gov. Neil Abercrombie and state House and Senate leaders use the council's forecasts when drafting the budget.

General excise and use taxes are up 7.6 percent. Hotel-room taxes are up 28.6 percent. Individual income taxes are down 17.1 percent, a reflection of the delay in refunds. And corporate income taxes, which can be influenced by a few big tax cases, are off 50.4 percent.






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