Hawaii Gov. Linda Lingle Monday announced that state income tax refunds processed during the months of January and February will now be issued. The 2009 refunds were delayed within the legally allowed 90-day refund period until early July 2010 to help mitigate the state’s projected $721 million revenue shortfall for fiscal 2010.
The total estimated refunds for taxpayers who filed during the period is $125 million, accounting for 60% of the $207 million claims to date. An estimated 43% of 331,000 tax filers will receive refunds. The first refunds will go to the earliest tax-return filers.