NOVEMBER 2018 PRELIMINARY COMPARATIVE STATEMENT OF STATE GENERAL FUND TAX REVENUES

Posted on Dec 7, 2018 in Latest News
November 2018
(Dollars in Thousands)
CUMULATIVE TOTALS DIFFERENCE
Nov 2018 2018-2019 2017-2018 AMOUNT % CHANGE
GE/Use Taxes $277,212 $1,446,260 $1,415,069 31,191 2.2%
Income Tax – Corp. 5,538 42,405 26,992 15,413 57.1%
Decl. Est. Taxes 4,978 67,665 52,668
Payment w/returns 3,607 13,769 5,462
Refunds (3,047) (39,029) (31,138)
Income Tax – Ind. 173,453 955,451 888,382 67,069 7.5%
Decl. Est. Taxes 15,730 159,416 189,857
Payment w/returns 4,738 51,453 48,545
WH Tax on Wages 159,992 855,125 798,505
Refunds (7,007) (110,542) (148,525)
Special Fund 0 0 0
Trans. Accom. Tax 40,163 243,243 209,849 33,394 15.9%
Convention Ctr. Enterprise Fund (1,375) (6,875) (11,042)
Tourism Special Fund (6,583) (32,917) (34,167)
Turtle Bay Conservation Fund (125) (625) (625)
Land & Development  Fund (250) (1,250) (1,250)
County Fund (8,583) (42,917) (42,917)
Mass Transit Fund (3,619) (22,874) 0
SUB-TOTAL 19,628 135,785 119,849 15,936
All Others 39,684 208,795 210,165 (1,370) -0.7%
TOTAL GENERAL FUND $515,515 $2,788,697 $2,660,457 $128,240 4.8%
Note:  General Fund allocations are in bold print.

 

Five months into fiscal year (FY) 2019, the cumulative general fund tax deposits are up by 4.8% compared with the same period in FY 2018.  General excise and use tax (GET) collections, the largest single category of tax collections, were $277.2 million in November.  For FY 2019, cumulative collections of the GET are up by 2.2% from last fiscal year. Individual income tax (IIT) collections were $173.5 million in November.  Cumulative collections of the IIT are up by 7.5% from last fiscal year. Transient accommodations tax (TAT) collections were $40.2 million in November. Cumulative collections of the TAT are up by 15.9% from last fiscal year.

Deborah Kwan | State of Hawaii – Department of Taxation

830 Punchbowl Street, Rm 221, Honolulu, Hawaii 96813

(808) 587-1540 | http://tax.hawaii.gov