State Government Tax Collections, Corporation Net Income Taxes in Hawaii
HICORPINCTX • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
514,588.00
Year-over-Year Change
541.18%
Date Range
1/1/1955 - 1/1/2024
Summary
This data series tracks state government tax collections from corporation net income taxes in Hawaii. It provides insight into the financial health and profitability of businesses operating in 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 Corporation Net Income Taxes series measures the revenue collected by the Hawaii state government from taxes on the net income of corporations and other businesses. This data point is a key indicator of economic conditions and business activity within the state.
Methodology
The data is collected and reported by the U.S. Census Bureau through their Quarterly Summary of State and Local Tax Revenue program.
Historical Context
Policymakers and economists use this metric to assess the fiscal health of the state government and monitor trends in business profitability.
Key Facts
- Hawaii relies on corporation net income taxes for around 10% of its total state tax revenue.
- Corporate tax collections declined sharply in Hawaii during the 2008-2009 recession.
- Corporation net income tax receipts in Hawaii have largely recovered to pre-recession levels.
FAQs
Q: What does this economic trend measure?
A: This data series tracks the revenue collected by the Hawaii state government from taxes on the net income of corporations and other businesses operating in the state.
Q: Why is this trend relevant for users or analysts?
A: The Corporation Net Income Taxes series provides insight into the financial health and profitability of businesses in Hawaii, which is useful for policymakers and economists assessing the state's fiscal condition and economic outlook.
Q: How is this data collected or calculated?
A: The data is collected and reported by the U.S. Census Bureau through their Quarterly Summary of State and Local Tax Revenue program.
Q: How is this trend used in economic policy?
A: Policymakers and economists use this metric to assess the fiscal health of the Hawaii state government and monitor trends in business profitability within the state.
Q: Are there update delays or limitations?
A: The data is reported on a quarterly basis, so there may be a short delay before the most recent information is available.
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Citation
U.S. Federal Reserve, State Government Tax Collections, Corporation Net Income Taxes in Hawaii (HICORPINCTX), retrieved from FRED.