Here's How Tax Increases Are Shaking Out In The Hawaii Legislature
As Hawaii lawmakers approach the midpoint of this year’s session, they are positioning a variety of tax increase bills for passage later in the session, just in case they are needed.
But whether those tax hikes finally pass this year will depend largely on what happens in Washington, D.C.
If the new COVID-19 pandemic aid package being negotiated in Congress this week is generous, there will be less pressure on Hawaii lawmakers to raise state taxes. But if the federal aid package turns out to be more stingy, the Legislature may go on a hungry hunt for money.
There is a bill to increase state income taxes, bills that would boost the state inheritance tax, and bills to increase the state capital gains tax. There is a proposal to suspend excise tax exemptions and increase the corporate income tax, bills to tax e-cigarettes, and bills to increase taxes on car rentals.
Read more: https://www.civilbeat.org/2021/03/heres-how-tax-increases-are-shaking-out-in-the-hawaii-legislature/