Hawaii's FY10 tax revenues are down slightly

Hawaii's FY10 tax revenues are down slightly

HONOLULU (AP) - Hawaii's tax revenues took a slight dip during the fiscal year that recently ended. Individual and corporate income tax collections were up by as much as 14.5 percent between July 1, 2009, and June 30, 2010, compared to the same period the year before.

The state's hotel tax also rose by more than 6 percent. But general excise tax receipts fell by more than 4 percent.

In total, general fund revenues dropped by less than 1 percent for the fiscal year.

However, if the state's delay in distributing income tax refunds is considered, total revenues for the year jumped almost 4 percent.

State Council on Revenues Chairman Paul Brewbaker says the figures leave his panel with a mixed message about the robustness of the economic recovery.