Hawaii General Fund Tax Revenue Forecast

● . ● The Council's forecast for FY 2015 and FY 2016 The Council's current forecast is that General Fund tax revenues will grow by 4.5% in FY 2015, to $5.61 billion. The revenue growth for the first six months of the fiscal year (6.3%) is higher than the forecast rate for the full year. The last six months of the fiscal year generally provide more than half of the total General Fund tax revenues ---holiday season, April 20 deadline, etc. • The revenues for the remainder of the fiscal year (January through June) will have to surpass those for the same period last year by only 2.8% if we are to meet the forecast. The growth rate forecast for FY 2016 is 5.5%.

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