Hawaii General Fund Tax Revenue Forecast

Growth in General Fund tax revenue has turned positive in FY 2015 In the first six months of FY 2015: - - General Fund tax revenues are up by 6.3% compared to FY 2014. Collections of the General Excise Tax (GET) are up by 7.1%, and GET allocations to the General Fund (after the special allocation to the Hawaii Hurricane Relief Fund) are up by 7.4% compared to FY 2014. Collections of the Individual Income Tax are up by 8.5% compared to FY 2014. Changes in tax laws are not expected to have much effect on the growth rate for General Fund tax revenues from FY 2014 to FY 2015.

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