HONOLULU (AP) – Hawaii tax revenues are growing as the tourism industry recovers.
The state Department of Taxation said Thursday general excise tax revenue so far this fiscal year is 8 percent higher than last year.
The state brought in $871 million in general excise taxes in July through October. Last year, it collected $805 million during the same four months.
Revenues from the transit accommodation tax on hotel rooms and other short-term rentals surged 20 percent to $103 million.
Overall, the state’s general fund stands at $1.57 billion, up from $1.29 billion at this point in 2010.
The increases come as the state’s largest industry, tourism, grows. Last month, the Hawaii Tourism Authority said visitor spending jumped nearly 20 percent in September from the same month a year ago.
(Copyright 2011 by The Associated Press. All Rights Reserved.)
See the original article at: KHON2 Developing Stories
