State Tax Collections: Total Taxes for Hawaii
This dataset tracks state tax collections: total taxes for hawaii over time.
Latest Value
2392.00
Year-over-Year Change
-24.11%
Date Range
1/1/1994 - 1/1/2025
Summary
This trend measures the total state tax collections for Hawaii, providing insight into the state's fiscal health and economic performance.
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: Total Taxes for Hawaii series tracks the aggregate amount of tax revenue collected by the state government, including income, sales, and other taxes. This metric is a key indicator of a state's overall economic activity and fiscal capacity.
Methodology
The data is collected and reported by the U.S. Census Bureau.
Historical Context
Policymakers and analysts use this trend to assess Hawaii's economic and fiscal conditions.
Key Facts
- Hawaii's total state tax collections were $7.4 billion in 2020.
- Tax collections account for over 90% of Hawaii's state government revenue.
- Hawaii relies heavily on tourism, which impacts its tax collections.
FAQs
Q: What does this economic trend measure?
A: The State Tax Collections: Total Taxes for Hawaii series measures the aggregate amount of tax revenue collected by the Hawaii state government, including income, sales, and other taxes.
Q: Why is this trend relevant for users or analysts?
A: This trend provides insight into Hawaii's fiscal health and economic performance, making it a key indicator for policymakers and analysts assessing the state's economic and fiscal conditions.
Q: How is this data collected or calculated?
A: The data is collected and reported by the U.S. Census Bureau.
Q: How is this trend used in economic policy?
A: Policymakers and analysts use this trend to evaluate Hawaii's economic activity and fiscal capacity, which informs policy decisions and budget planning.
Q: Are there update delays or limitations?
A: The data is typically released on a quarterly basis, with a short delay for data collection and compilation.
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Citation
U.S. Federal Reserve, State Tax Collections: Total Taxes for Hawaii (QTAXTOTALQTAXCAT3HINO), retrieved from FRED.