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General excise tax revenues up 8 percent

December 29, 2011
The Maui Weekly

The Maui News - Hawai'i tax revenues are continuing to grow as the tourism industry and the economy recover. The state Department of Taxation said last week the state took in $1.08 billion in general excise tax revenue in the first five months of the fiscal year that began in July. That is 8 percent more than the same period last year. Revenue from the hotel tax is also up. The state generated $126 million from the transient accommodations tax, up 15 percent from last year.

This helped the state's general fund rise to $1.93 billion so far this fiscal year, which is 17.9 percent higher than where it stood at this point in 2010.



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