POSTED: 6:35 p.m. HST, Feb 13, 2012
State tax collections are up 17.5 percent over last fiscal year, the state Department of Taxation reported on Monday, but the increase is only 8.9 percent when the effect of delaying some income tax refunds last year is accounted for.
The report covers the first seven months of the fiscal year, through January. The Department of Taxation reported that general excise and use taxes — the largest category — are up 7.5 percent over last fiscal year. Hotel room taxes are up 16.1 percent.
The state Council on Revenues has estimated that collections will jump 11.5 percent for the fiscal year that ends in June, a projection that influences debate over the state budget.