Individual income tax puts $650 million into Hawaii’s revenue in Q1, 2024

Gary S. Suganuma Tax Commissioner at Hawaii Department of Taxation - Hawaii Department of Taxation
Gary S. Suganuma Tax Commissioner at Hawaii Department of Taxation - Hawaii Department of Taxation
0Comments

Hawaii collected $650 million in individual income taxes during the first quarter of 2024, according to the U.S. Census Bureau’s Quarterly Summary of State and Local Taxes.

Individual income taxes are based on net personal income and taxes imposed on such income as dividends, interest and income from intangibles.

Overall, Hawaii collected $2.5 billion in combined tax revenues in the first quarter of 2024.

During 2024, the U.S. government collected a total of $4.92 trillion in revenue. Individual income taxes were the biggest contributor, generating $2.4 trillion, nearly half of all revenue collected. Payroll taxes came in second, adding around $1.7 trillion to revenue. The third largest source was corporate income taxes, generating $530 billion.

In addition to detailed tax revenue data from each state, the Quarterly Summary of State and Local Government Tax Revenue includes an estimate of state and local government tax revenue at a national level.

The Census Bureau cautions that it sets the tax classifications among the survey categories, and they may differ from the classifications set by the state governments.

Q1, 2024 Hawaii Tax Collections
Type of Tax Amount (millions)
Property Taxes $0
Sales and Gross Receipts Taxes $1,656
Individual Income Taxes $650
Other Income Taxes $83

Information in this story was obtained from the U.S. Census Bureau’s Quarterly Summary of State and Local Taxes. The source data can be found here.



Related

Edwin Sniffen, Director - Hawaii Department of Transportation

Hawaii DOT seeks public input on long-range land transportation plans for Lānaʻi and Molokaʻi

The Hawaii Department of Transportation (HDOT) is seeking public input on future land transportation needs for Lānaʻi and Molokaʻi as part of its Statewide Long-Range Land Transportation Plan update.

Ken Sorenson Acting United States Attorney for the District of Hawaii - Honolulu Civil Beat Inc.

Military lawyer convicted for attempted enticement and exploitation involving minors

A federal jury in Honolulu has convicted Ross Andrew Brown, a 44-year-old military lawyer and Lieutenant Colonel in the United States Air Force Judge Advocate General’s Corps, on charges related to attempted sexual enticement and exploitation of…

Ken Sorenson Acting United States Attorney for the District of Hawaii - Honolulu Civil Beat Inc.

Former Navy petty officer sentenced for possession of violent child pornography

Rumaldo Valdez, a 22-year-old former Navy Petty Officer Third Class stationed on Oahu, has been sentenced to 97 months in federal prison for possession of child pornography.

Trending

The Weekly Newsletter

Sign-up for the Weekly Newsletter from Aloha State News.