State Tax Collections: T12 Insurance Premiums Sales Tax for Hawaii
QTAXT12QTAXCAT3HINO • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
59.00
Year-over-Year Change
-3.28%
Date Range
1/1/1994 - 1/1/2025
Summary
This economic trend measures the quarterly state tax collections from the insurance premiums sales tax in Hawaii. It provides insight into the state's tax revenue and the insurance industry's economic activity.
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 Tax Collections: T12 Insurance Premiums Sales Tax for Hawaii tracks the revenue the state of Hawaii collects from its tax on insurance premiums. This metric is used by economists and policymakers to analyze the state's fiscal health and the performance of the local insurance sector.
Methodology
The data is collected and reported quarterly by the U.S. Census Bureau.
Historical Context
This trend is relevant for assessing Hawaii's economic and fiscal conditions, as well as the insurance market's performance in the state.
Key Facts
- Hawaii charges a 4.25% tax on insurance premiums.
- This tax accounted for over $300 million in state revenue in 2020.
- The insurance industry is a major employer and economic driver in Hawaii.
FAQs
Q: What does this economic trend measure?
A: This trend measures the quarterly state tax revenue collected by Hawaii from its tax on insurance premiums.
Q: Why is this trend relevant for users or analysts?
A: This metric provides insights into Hawaii's fiscal health and the performance of the state's insurance industry, which is an important part of the local economy.
Q: How is this data collected or calculated?
A: The data is collected and reported quarterly by the U.S. Census Bureau.
Q: How is this trend used in economic policy?
A: Policymakers and economists use this trend to assess Hawaii's fiscal conditions and the overall health of the state's insurance market.
Q: Are there update delays or limitations?
A: The data is reported on a quarterly basis, so there may be a delay of a few months before the latest figures are available.
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Citation
U.S. Federal Reserve, State Tax Collections: T12 Insurance Premiums Sales Tax for Hawaii (QTAXT12QTAXCAT3HINO), retrieved from FRED.