State Tax Collections: T40 Individual Income Taxes for Hawaii
QTAXT40QTAXCAT3HINO • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
580.00
Year-over-Year Change
-46.00%
Date Range
1/1/1994 - 1/1/2025
Summary
This economic trend measures individual income tax collections in the state of Hawaii. It provides insights into state government revenue sources and the overall health of the state's economy.
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: T40 Individual Income Taxes for Hawaii metric tracks the total amount of individual income taxes collected by the state government of Hawaii. This data point is used by economists and policymakers to analyze state fiscal conditions and revenue trends.
Methodology
The data is collected and reported by the U.S. Census Bureau through quarterly state government tax surveys.
Historical Context
This metric is relevant for understanding Hawaii's budgetary and economic environment, as individual income taxes are a major source of state government revenue.
Key Facts
- Hawaii does not have a state sales tax.
- Individual income taxes account for over 50% of Hawaii's state tax revenue.
- Hawaii's state individual income tax rates range from 1.4% to 11% based on income level.
FAQs
Q: What does this economic trend measure?
A: This trend measures the total amount of individual income taxes collected by the state government of Hawaii. It provides insights into a key revenue source for the state.
Q: Why is this trend relevant for users or analysts?
A: This metric is important for understanding Hawaii's fiscal conditions and economic performance, as individual income taxes are a major component of state government revenue.
Q: How is this data collected or calculated?
A: The data is collected and reported by the U.S. Census Bureau through quarterly state government tax surveys.
Q: How is this trend used in economic policy?
A: Policymakers and economists use this metric to analyze Hawaii's budgetary environment and the health of the state's economy.
Q: Are there update delays or limitations?
A: The data is reported on a quarterly basis, so there may be a lag of several months before the most recent information is available.
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Citation
U.S. Federal Reserve, State Tax Collections: T40 Individual Income Taxes for Hawaii (QTAXT40QTAXCAT3HINO), retrieved from FRED.