Taxes

Hawaii moved from 14th to 20th....

At June 30, 2013, ERS had an “unfunded actuarial accrued liability” of about $8.4 billion. For EUTF, the number was about $18.2 billion....

...highlighting those bills that champion taxpayers and residents; and bills that affect our rights and freedoms....

Constitutionally, the state can only engage in annual deficit spending as long as there are enough cash reserves to absorb these deficits....

Once in a while people fight with taxing agencies about their taxes....

...rates and rankings of all 50 states on 39 different measures of tax and fiscal policy....

The downward forecast means that the state has now fewer projected revenues that could be used to fund some of the proposed spending initiatives....

Here are the tax highlights from the 2014 Legislative Session....

This bill is still alive and it represents probably the largest TAX INCREASE still moving.....

Californians face the highest top marginal personal dividend tax rate in the United States of 33 percent, followed by taxpayers in New York (31.5 percent), and Hawaii (31.6 percent)....

The council projected zero percent growth for the fiscal year that ends in June, down from 3.3 percent....

Appeals officers help over 100,000 taxpayers each year resolve their tax disputes with the IRS....

The governor may not be following the legislative process closely....

Mr. Yamachika discusses the state’s current tax policies and the work of Tax Foundation....

“The tax code stables in Washington haven’t been cleaned out since 1986.” And it shows....

Among the proposals being considered are a low-income credit; a food and excise tax credit; a low-income household renters’ credit; an earned income tax credit; and a special tax credit for seniors....

IRS officials admitted that groups with conservative leanings, especially with the words “tea party” or “patriot” in their names, had been targeted....

New states considering online travel agency taxes should consider the harmful effect on tourism and the potential for legal battles they're likely to lose....

When you and I pay our taxes, we probably expect that the money we pay in will be used toward any and all legitimate financial needs of the state....

Caldwell's Garbage Tax Would Hit Nonprofits, Small Business Hard....

If the legislature is serious about fighting poverty in Hawaii, a broader and more comprehensive discussion is essential....

...its major impact has been as a funding source for energy and food security initiatives....

32 states have similar exemptions, and research has demonstrated that low and middle-income families spend a larger proportion of their income on food costs....

"Well, I’m always pleased to share credit when people realize they can’t avoid their responsibilities anymore...." - Abercrombie

Recently the mayors of our four large counties all got together in what has been described as their annual pilgrimage to the legislature....

Attorney General David M. Louie joined 46 fellow state and territorial attorneys general in signing a letter sent to the U.S. Trade Representative....

Senator Slom and Representative Aaron Ling Johanson and his fellow House Republicans are introducing companion legislation that includes financial relief for every taxpayer in Hawaii....

There was only one Lowell Kalapa, and he is now in a place where there are no taxes....

SB 2982 proposes a constitutional amendment to exclude certain retirement benefits from income taxation....

Beginning in fiscal year 2015, the distribution of tobacco settlement funds for tobacco prevention and control will return to 6.5 percent after being redirected into the general fund to offset budget deficits for the past several years....

...high-income and low-income filers had large tax expenditures, while middle-income taxpayers had smaller expenditures....

...a proposed bill containing four components that will significantly improve the economic vitality of low and moderate income households....

Souki's call for a pension tax on older, well-off residents of Hawaii is like Governor Abercrombie's Pension Tax of 2011...

...the HIT would increase health insurance premiums by more than $2,800 per person and $6,800 per family over a decade....

"...he provided a very valuable voice, especially in this town where you don't have too many people speaking out on anything."

Residents of Alaska ($40,000 per resident) and Hawaii ($33,000) have the highest levels of state debt on a per capita basis, followed by Connecticut ($31,000), Ohio($28,000) and Illinois ($25,000)....

As of January 1, a new tax rule will prevent restaurant workers from collecting automatic tips....

...property taxes as a share of home values ranging from 0.2 percent (Maui County, Hawaii) to 3.1 percent (Wayne County, New York)....

This is only the beginning—watch how two of these taxes get worse in the years to come....

This tax structure is not surprising given Hawaii’s reliance on tourism as its primary economic driver....

... and two tax hikes for 2014 ....

The report for November pegs growth in TAT revenues at a positive 9.0% while the collections of the general excise tax are down by 3.4%....

... another legislative session looms large on the horizon ....

Our state’s lower-income families are faced with almost insurmountable structural challenges to escaping poverty....

Now that everyone is aware that the tax increases of the last few years have allowed state government to accumulate nearly a billion dollars in surplus funds, it is time for policymakers to think about insuring that Hawaii is ready for the next downturn....