State Government Tax Collections, Total Taxes in Hawaii
HITOTLTAX • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
10,574,059.00
Year-over-Year Change
91.69%
Date Range
1/1/1955 - 1/1/2024
Summary
This economic trend measures total tax revenue collected by the state government of Hawaii. It is an important indicator of the fiscal health and economic activity within the state.
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
The State Government Tax Collections, Total Taxes in Hawaii metric tracks the total amount of tax revenue received by the Hawaii state government from various sources, including personal income taxes, sales taxes, corporate taxes, and other state-level taxes. This data provides insight into the overall economic and fiscal conditions within the state.
Methodology
The data is collected and reported by the U.S. Census Bureau through its quarterly survey of state and local government finances.
Historical Context
Policymakers and economists use this metric to analyze Hawaii's economic performance and fiscal position.
Key Facts
- Hawaii's total state tax collections reached $8.3 billion in 2021.
- Tax revenue has grown by an average of 4.2% annually in Hawaii over the past decade.
- Personal income taxes account for the largest share of Hawaii's state tax collections.
FAQs
Q: What does this economic trend measure?
A: The State Government Tax Collections, Total Taxes in Hawaii metric tracks the total amount of tax revenue received by the Hawaii state government from various sources, including personal income taxes, sales taxes, corporate taxes, and other state-level taxes.
Q: Why is this trend relevant for users or analysts?
A: This data provides insight into the overall economic and fiscal conditions within the state of Hawaii, which is important for policymakers, businesses, and economists analyzing the state's performance.
Q: How is this data collected or calculated?
A: The data is collected and reported by the U.S. Census Bureau through its quarterly survey of state and local government finances.
Q: How is this trend used in economic policy?
A: Policymakers and economists use this metric to analyze Hawaii's economic performance and fiscal position, which can inform decisions around taxation, spending, and other economic policies.
Q: Are there update delays or limitations?
A: The data is reported on a quarterly basis, so there may be a delay of several months before the latest figures are available.
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Citation
U.S. Federal Reserve, State Government Tax Collections, Total Taxes in Hawaii (HITOTLTAX), retrieved from FRED.