About three months ago, I wrote about the $10,000 limitation on deductions for state and local tax that is part of the Tax Cuts and Jobs Act of 2017. In a nutshell, you can only deduct up to $10,000 in … Read More
This week we look at HB 2416, a bill that applies Hawaii Use Tax to intangible property. The Use Tax is a tax designed to protect our local businesses. As a consumer, you often have a choice between buying a … Read More
In a recent hearing in the Honolulu City Council’s Budget Committee, council leaders say that they might have found a “magic bullet” – one that they say will get the City’s share of rail funding done painlessly. Here’s the issue. … Read More
One of the bills that has come out of the recently concluded legislative session is SB 2699, which proposes to make “resort fees” subject to our Transient Accommodations Tax (TAT). A “resort fee,” which also goes on your bill if … Read More
This November, voters throughout the State will be given the opportunity to vote on a constitutional amendment, brought forward by Senate Bill 2922, supposedly to fund primary school education. The amendment would give the State Legislature the power to impose … Read More
HB 2432, one of the bills actively being considered this session, proposes to hike the “transient occupancy tax,” or TOT, by an as-yet-unspecified amount. This part of the bill is noteworthy for the factual support behind it. Or, more particularly, … Read More
In last week’s article, I said we should look forward to lots of surprises as lawmakers press forward with our legislative session with techniques such as “Gut and Replace” to give our legislative bills content that doesn’t at all resemble … Read More
It’s not often that State lawmakers express their justification for imposing taxes in terms other than “We need the money to fund essential services and programs.” But how about this? The following language is from an actual bill: “The legislature … Read More
Do you recognize any of these names: Hiʻilei Aloha LLC, Hiʻipaka LLC, and Hoʻokele Pono LLC? For one thing, all of them have “LLC” in their names. LLC is an abbreviation for Limited Liability Company. A LLC is a legal … Read More
A recent news release from the Hawaii State Senate Majority Caucus says: The State Senate has drafted, discussed, and voted on SB508, SB2415, SB2484, SB2489, SB2699, and SB2821 that are projected to generate approximately $72 million in revenues based on … Read More