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.