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Thursday, November 21, 2024

Hawaii's combined tax revenues down 43.6% from Q2 to Q3 2023

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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

Combined tax revenues in Hawaii decreased 43.6% in the third quarter of 2023 in comparison to the previous quarter, according to the U.S. Census Bureau’s Quarterly Summary of State and Local Taxes.

Overall, Hawaii collected $1.7 billion in taxes during the third quarter of 2023, compared to $3 billion in the previous quarter.

The majority of the state’s tax revenue was collected through general sales and gross receipts taxes ($1.1 billion) and income taxes ($512 million).

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.

Q3 Hawaii Tax Collections
Type of TaxAmount (millions)
Sales and Gross Receipts Taxes$1,084
Income Taxes$512
License Taxes$66
Other Taxes$36
Source: U.S. Census Bureau

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