Hawaii tax collections down 5%

General fund deposits for the first two months of the fiscal year totaled $680.4 million, which was down 5 percent and far more than the 1.5 percent decline forecast by the Council on Revenues, the Hawaii Department of Taxation said.

Publication: Pacific Business News
Date of Publication: September 10, 2009
Article URL: http://pacific.bizjournals.com/pacific/stories/2009/09/07/daily40.html

Comments by Sachiko

According to the article, individual income tax collections totaled $111.4 million in August, decreased 6.4 percent to $214.8 million compared to the $229.4 million during the same period last year.

Hawaii tax collections down 5%

General fund deposits for the first two months of the fiscal year totaled $680.4 million, which was down 5 percent and far more than the 1.5 percent decline forecast by the Council on Revenues, the Hawaii Department of Taxation said.

Publication: Pacific Business News
Date of Publication: September 10, 2009
Article URL: http://pacific.bizjournals.com/pacific/stories/2009/09/07/daily40.html

Comments by Sachiko

According to the article, individual income tax collections totaled $111.4 million in August, decreased 6.4 percent to $214.8 million compared to the $229.4 million during the same period last year.

Hawaii tax collections down 5%

General fund deposits for the first two months of the fiscal year totaled $680.4 million, which was down 5 percent and far more than the 1.5 percent decline forecast by the Council on Revenues, the Hawaii Department of Taxation said.

Publication: Pacific Business News
Date of Publication: September 10, 2009
Article URL: http://pacific.bizjournals.com/pacific/stories/2009/09/07/daily40.html

Comments by Sachiko

According to the article, individual income tax collections totaled $111.4 million in August, decreased 6.4 percent to $214.8 million compared to the $229.4 million during the same period last year.

State tax effort targets cash-based business

The Hawaii Department of Taxation said it is increasing its enforcement efforts aimed at businesses that do most of their business in cash.

Publication: Pacific Business News
Date of Publication: September 28, 2009
Article URL: http://pacific.bizjournals.com/pacific/stories/2009/09/28/daily10.html

Comments by Sachiko

According to the article, the law allows the department to investigate reported or suspected violation of tax laws, especially cash-based transactions. The effort is to ensure that businesses are reporting and paying taxes on the transactions.

Council Kills Homeowner's Property Tax Credit

Honolulu City Council members say they want to create tax breaks that will benefit more categories of property owners.

Publication: KITV4 ABC: Top Stories
Date of Publication: October 28, 2009
Article URL: http:/ / www.kitv.com/ money/ 21442173/ detail.html

Comments by Sachiko

It looks like the bill was not carefully planned.  According to the article, the bill was designed to give homeowners a tax break next year when officials expect property values to be lower and property tax rates will increase.  Some council members voiced concern that the tax break for homeowners who live in their home would shift the burden to renters and commercial property owners.

Gov. Linda Lingle and legislative leaders unveiled an ambitious, six-year plan to upgrade Hawaii’s roads by increasing fuel taxes, registration fees and rental-car surcharges that would cost the average resident $170 more per year.

Publication: Pacific Business News
Date of Publication: January 22, 2009
Article URL: http://pacific.bizjournals.com/pacific/stories/2009/01/19/daily45.html?surround=lfn

Comments by Sachiko

According to the article, the $4.2 billion plan would pay for 183 projects across the state, relying mainly on new taxes that would start in mid-2011.

The Council on Revenues expects Hawaii’s tax revenue to drop 3 percent this fiscal year, forcing the state to cut an additional $125 million in spending.

Publication: Pacific Business News
Date of Publication: January 12, 2009
Article URL:  http://www.bizjournals.com/pacific/stories/2009/01/12/daily3.html

Comments by Sachiko

Hawaii’s general fund tax collections in the first half of the fiscal year were down 1.5 percent, or $33.4 million, compared to the same six months the previous year.

Publication: Pacific Business News
Date of Publication: January 12, 2009
Article URL: http://www.bizjournals.com/pacific/stories/2009/01/12/daily7.html

Comments by Sachiko

According to the article, general excise and use taxes, the largest category of tax collections, decreased by 3.7 percent to $1.25 billion.

New study shows that expenses eventually could exceed $1 billion

 

Publication: Honolulu Advertiser
Date of Publication: December 29, 2008
Article URL: http://www.honoluluadvertiser.com/article/20081229/NEWS01/812290351

Comments by Sachiko

According to the article, hawai'i's attempt to create a high-tech industry using generous and opaque tax credits cost an estimated $747 million through 2007, according to a new study by the state.

State revenue collections through the first nine months of this fiscal year have increased 3.6 percent over last year, according to the state Department of Taxation...Total state revenue for the first nine months of the fiscal year was $3.41 billion, compared with $3.29 billion for the same period last year. The fiscal year ends June 30.

Publication: honoluluadvertiser.com
Date of Publication: April 11, 2008
Article URL: http:/ / www.honoluluadvertiser.com/ apps/ pbcs.dll/ article?AID=/ 20080411/ NEWS18/ 804110356/ -1/ BACKISSUES