Hawaii 2011 Tax Revenues Higher Than Expected
Hawaii state tax collections came in stronger than expected for the year ended June 30.
Total deposits into the state's general fund were down 0.9 percent for the year, compared to the previous year, according to preliminary figures from the Hawaii Department of Taxation. That's stronger than the minus 1.6 percent growth forecast by the Council on Revenues, which lawmakers relied on to build the state's 2012 and 2013 budgets.
Dean Hirata, deputy director of the state Department of Budget and Finance, called the stronger growth "good news."
"The June results are encouraging as we look at the Hawaii economy going forward," Hirata told Civil Beat.