State Government Tax Collections, Total Other Taxes in Hawaii
HITLOTHTAX • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
153,205.00
Year-over-Year Change
180.10%
Date Range
1/1/1955 - 1/1/2024
Summary
The 'State Government Tax Collections, Total Other Taxes in Hawaii' metric tracks tax revenue from sources other than sales, income, or property taxes collected by the Hawaii state government. This provides insight into the broader fiscal health and policy environment of 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
This series represents the total amount of 'other taxes' collected by the Hawaii state government, including excise taxes, licenses, and other miscellaneous taxes. It is a key indicator of Hawaii's overall tax revenue and economic activity, complementing data on sales, income, and property taxes.
Methodology
The data is collected and reported by the U.S. Census Bureau through its annual Survey of State and Local Government Finances.
Historical Context
Policymakers and economists analyze this metric to understand Hawaii's fiscal position and the broader state tax environment.
Key Facts
- Hawaii's total other tax collections were $1.31 billion in 2021.
- Other taxes account for 20% of Hawaii's total state tax revenue.
- Hawaii's other tax collections have grown by 4.8% annually over the past decade.
FAQs
Q: What does this economic trend measure?
A: This metric tracks the total amount of 'other taxes' collected by the Hawaii state government, excluding sales, income, and property taxes.
Q: Why is this trend relevant for users or analysts?
A: This data provides insight into Hawaii's broader fiscal health and tax environment, complementing information on other major tax revenue sources.
Q: How is this data collected or calculated?
A: The data is collected and reported annually by the U.S. Census Bureau through its Survey of State and Local Government Finances.
Q: How is this trend used in economic policy?
A: Policymakers and economists analyze this metric to understand Hawaii's fiscal position and the broader state tax environment, which informs policy decisions.
Q: Are there update delays or limitations?
A: The data is published annually with a lag, so there may be a 1-year delay in the most recent figures.
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Citation
U.S. Federal Reserve, State Government Tax Collections, Total Other Taxes in Hawaii (HITLOTHTAX), retrieved from FRED.