State Tax Collections: T09 General Sales and Gross Receipts Taxes for Hawaii
QTAXT09QTAXCAT3HINO • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
1,303.00
Year-over-Year Change
-7.72%
Date Range
1/1/1994 - 1/1/2025
Summary
This economic trend measures Hawaii's general sales and gross receipts tax collections, providing insight into consumer spending and state 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
The State Tax Collections: T09 General Sales and Gross Receipts Taxes for Hawaii series tracks the total amount of sales and use taxes collected by the state government. This metric is a key indicator of economic activity and consumer demand in Hawaii.
Methodology
The data is collected by the U.S. Census Bureau through state government tax revenue reports.
Historical Context
Policymakers and economists monitor this trend to assess the health of Hawaii's economy and guide fiscal and regulatory decisions.
Key Facts
- Hawaii's sales tax rate is 4.0%.
- General sales taxes account for over 50% of Hawaii's total tax revenue.
- Sales tax collections declined sharply during the COVID-19 pandemic.
FAQs
Q: What does this economic trend measure?
A: This trend measures the total amount of general sales and gross receipts taxes collected by the Hawaii state government.
Q: Why is this trend relevant for users or analysts?
A: This metric provides insight into consumer spending patterns and the overall health of Hawaii's economy, which is crucial information for policymakers and economists.
Q: How is this data collected or calculated?
A: The data is collected by the U.S. Census Bureau through state government tax revenue reports.
Q: How is this trend used in economic policy?
A: Policymakers and analysts use this trend to assess the state's fiscal conditions and make informed decisions about taxation, spending, and regulatory policies.
Q: Are there update delays or limitations?
A: The data is published quarterly, with a delay of several months, and may be subject to revisions.
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Citation
U.S. Federal Reserve, State Tax Collections: T09 General Sales and Gross Receipts Taxes for Hawaii (QTAXT09QTAXCAT3HINO), retrieved from FRED.