Newswatch - Hawaii News

Newswatch - Hawaii News

There are 1 comment on the Honolulu Star-Bulletin story from Dec 12, 2009, titled Newswatch - Hawaii News. In it, Honolulu Star-Bulletin reports that:

The state says tax revenues for the first five months of this fiscal year are 6.5 percent below revenues recorded for the same period the previous fiscal year.

Join the discussion below, or Read more at Honolulu Star-Bulletin.

The Facts

Honolulu, HI

#1 Dec 12, 2009
Why does the Bulletin bury the news that tax revenues continue to fall? The public -- including the unions -- need to come to grips that our tax revenues are way down and there's no money to fund raises, prevent layoffs or subsidize child care.

State taxes drop 6.5% in 5 months of fiscal year

The state says tax revenues for the first five months of this fiscal year are 6.5 percent below revenues recorded for the same period the previous fiscal year.

The state Department of Taxation said yesterday that revenue from general excise and use taxes, the largest category, decreased 7.3 percent during the five months beginning in July.

Transient accommodations tax, or hotel room tax, revenues are down 5.6 percent.

Individual income tax revenues are down 9.1 percent, while corporate income tax revenues are down 38.5 percent.

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