State begins issuing 2009 tax refunds - Hawaii News Now - KGMB and KHNL

State begins issuing 2009 tax refunds

HONOLULU (AP) - The state has issued $21 million in tax refunds to 35,000 tax filers, with 70,000 refunds totaling $43 million to be issued as early as this week. The state had planned to delay 2009 tax refunds until early July to help address Hawaii's projected $721 million revenue shortfall.

Delaying the refunds would provide an estimated one-time savings of $275 million. But Governor Linda Lingle announced May 17 that improving tax revenue collections allowed the Department of Taxation to begin issuing refunds.

On Tuesday, Lingle said the higher than expected tax collections was an encouraging sign that the state's economy is beginning to recover.  

Copyright 2010 by The Associated Press.  All Rights Reserved.

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