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Saturday, November 23, 2024

Hawaii's miscellaneous tax revenues up 54.8% in Q1 2022

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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

Hawaii collected $65 million in miscellaneous tax revenue during the first quarter of 2022, a 54.8% increase over the previous quarter, according to the U.S. Census Bureau's Quarterly Summary of State and Local Taxes.

Miscellaneous tax revenue reached $42 million in the previous quarter.

Net sales reflect companies' total revenue stream, minus the costs of discounts, allowances and product returns.

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 2022 Hawaii Tax Collections

Type of TaxAmount (millions)
Sales and Gross Receipts Taxes$1,854
Income Taxes$1,142
License Taxes$92
Miscellaneous Taxes$65

Source: U.S. Census Bureau

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