State Government Tax Collections, Total Selective Sales Taxes in Hawaii
HITLSLTAX • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
1,507,021.00
Year-over-Year Change
70.54%
Date Range
1/1/1955 - 1/1/2024
Summary
The State Government Tax Collections, Total Selective Sales Taxes in Hawaii trend measures the total amount of selective sales taxes collected by the state government in Hawaii. This metric is important for economists and policymakers to understand consumer spending patterns and state tax revenue.
Analysis & Context
This economic indicator provides valuable insights into current market conditions and economic trends. The data is updated regularly by the Federal Reserve and represents one of the most reliable sources for economic analysis.
Understanding this metric helps economists, policymakers, and investors make informed decisions about economic conditions and future trends. The interactive chart above allows you to explore historical patterns and identify key trends over time.
About This Dataset
This trend represents the total selective sales taxes collected by the Hawaii state government, which include taxes on specific goods and services like motor fuel, alcohol, and tobacco. Selective sales taxes are an important source of state revenue and provide insights into consumer behavior and the broader economic environment.
Methodology
The data is collected and reported by the U.S. Census Bureau.
Historical Context
Policymakers use this metric to inform fiscal policy and budget decisions.
Key Facts
- Hawaii's total selective sales taxes were $1.4 billion in 2021.
- Selective sales taxes account for over 25% of Hawaii's state tax revenue.
- Motor fuel taxes make up the largest portion of Hawaii's selective sales taxes.
FAQs
Q: What does this economic trend measure?
A: The State Government Tax Collections, Total Selective Sales Taxes in Hawaii trend measures the total amount of selective sales taxes collected by the state government in Hawaii.
Q: Why is this trend relevant for users or analysts?
A: This metric provides insights into consumer spending patterns and state tax revenue, which are important for understanding the broader economic environment and informing fiscal policy decisions.
Q: How is this data collected or calculated?
A: The data is collected and reported by the U.S. Census Bureau.
Q: How is this trend used in economic policy?
A: Policymakers use this metric to inform fiscal policy and budget decisions at the state level.
Q: Are there update delays or limitations?
A: The data is typically released with a 1-2 quarter delay, and may be subject to revisions.
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Citation
U.S. Federal Reserve, State Government Tax Collections, Total Selective Sales Taxes in Hawaii (HITLSLTAX), retrieved from FRED.