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million or 9.4 percent in fiscao 2009 compared to lastfiscakl year. The state announced Wednesday it had closed the bookxs on the year with general fund revenutotaling $4.2 billion compared to $4.6 billion in fisca 2008. The state is now faciny a budget shortfall of morethan $786 millio n through June 2011. The report also showed $56.7 milliojn in additional general fund revenuwe losses for the fiscal year that ended June 30 comparedr to what the Counciol on Revenues had projected when it last metin May. Stat e Director of Taxation Kurt Kawafuchi said the decreasesx were largely a result ofa $198.5 millionm drop in general excise and use taxes. For the general excise tax revenuestotaleed $2.
4 billion compared to $2.6 billion the previous That’s a 7.6 percent drop from the previous fiscal Transient accommodations tax collections were down 8.2 percenr to $210.6 million from $229.4 million in fiscapl 2008, reflecting the steep decline in tourism. And individua l income taxes were downby $207 milliohn or 13.4 percent. Corporatse income tax collections were downby $30.1 million or 35 percent compared to last fiscal
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