State Government Tax Collections, Total License Taxes in Hawaii
HITLLICTAX • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
330,902.00
Year-over-Year Change
27.86%
Date Range
1/1/1955 - 1/1/2024
Summary
The 'State Government Tax Collections, Total License Taxes in Hawaii' trend measures the total amount of license taxes collected by the state government of Hawaii. This metric is important for economists and policymakers to understand the state's tax revenue sources and fiscal conditions.
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
This trend represents the total amount of license taxes paid to the Hawaii state government, including fees for business, professional, motor vehicle, and other types of licenses. It provides insight into the state's non-sales tax revenue streams and can be used to analyze Hawaii's overall tax burden and fiscal policy.
Methodology
The data is collected by the U.S. Census Bureau through surveys of state government finance.
Historical Context
Policymakers and market analysts use this trend to assess Hawaii's economic and fiscal health.
Key Facts
- Hawaii's total license tax collections were $333 million in 2021.
- License taxes account for approximately 5% of Hawaii's state tax revenue.
- The trend has shown modest growth over the past decade.
FAQs
Q: What does this economic trend measure?
A: This trend measures the total amount of license taxes collected by the state government of Hawaii, including fees for business, professional, motor vehicle, and other types of licenses.
Q: Why is this trend relevant for users or analysts?
A: This trend provides insight into Hawaii's non-sales tax revenue sources and can be used to analyze the state's overall tax burden and fiscal policy.
Q: How is this data collected or calculated?
A: The data is collected by the U.S. Census Bureau through surveys of state government finance.
Q: How is this trend used in economic policy?
A: Policymakers and market analysts use this trend to assess Hawaii's economic and fiscal health.
Q: Are there update delays or limitations?
A: The data is reported annually with a slight delay, typically 6-12 months after the end of the fiscal year.
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Citation
U.S. Federal Reserve, State Government Tax Collections, Total License Taxes in Hawaii (HITLLICTAX), retrieved from FRED.