POSTED: 4:51 p.m. HST, Jun 9, 2010
State tax collections continue to improve as the economy moves toward recovery.
The state Department of Taxation reported today that tax revenue is up 1.8 percent through the first 11 months of the fiscal year. The actual collections through May are higher than projected by the state Council on Revenues, which predicted 0.5 percent growth for the fiscal year that ends in June.
General excise and use taxes -- the largest category of tax revenues -- are down 2.4 percent over last fiscal year. Hotel-room tax collections are up 7.6 percent.