REITs should pay taxes like rest of us
This is the year for our legislature and governor to come together to do what’s best for the state: Make REITs pay state corporate income taxes.
Government spending boosts economy
Hawaiʻi is resilient, and fueled by sufficient funds, the state budget can be the blueprint for a quick recovery.
It’s time for Hawaiʻi to tax the rich
“Tax the Rich” has become a statement about the restructuring of our social and economic priorities, which have been upended by the pandemic.
Gov. David Ige ponders higher fuel and wealth taxes
But tax increases are likely going to be considered by state lawmakers regardless of whether Ige includes such proposals in his detailed budget plan.
REITs should contribute more
REITs own property in the islands with a collective estimated total value of $17 billion but, unlike other businesses, the trusts in Hawaiʻi are effectively exempt from state income tax.
Key Hawaiʻi House committees approve minimum wage increase, earned income credit
The measure would create a refundable earned income tax credit, and increase the state’s food/excise tax credit to $150 per person for families that earn less than $30,000 per year.
Hawaiʻi lawmakers again considering taxing income on REITs
Similar legislation was vetoed by Gov. David Ige in 2019, who warned that it would hurt investment in the islands.
Advocates press for tax on real estate trusts
Real estate investment trusts own a number of landmark properties in Hawaiʻi, and their structure allows them to avoid paying Hawaiʻi’s corporate income tax.
Hawaiʻi lawmakers propose package to reduce income inequality
Lawmakers have announced a joint legislative package they say will benefit Hawaiʻi’s working-class families and individuals.
Community activists urge governor to allow real estate tax bill to become law
Community activists paid Gov. David Ige a surprise visit at the State Capitol on Wednesday, urging him not veto a bill that would tax some of Hawaiʻi’s largest landowners.
It’s absurd that REIT income is not taxed in Hawaiʻi
Hawaiʻi lawmakers should do the right thing and pass Senate Bill 301.
Surprising support for new tax on Hawaiʻi’s powerful real estate interests
Past efforts to tax REITs, which own $18 billion of property locally, have gone nowhere. This session, the proposal has already passed the full Senate and House committees.