Business Organization Says Forget HB 444 – Businesses Should Be Concerned About July 1 Tax Hikes

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    https://www.smokeforthechildren.org
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    https://www.smokeforthechildren.org

    Smart Business Hawaii, Hawaii’s most effective small business advocacy organization, admonished local media and business organizations for concentrating on the estimated impact of  civil unions in Hawaii  (i.e., HB444), while ignoring major, new Hawaii taxes.

    SBH believes there will be continued recession and economic devastation for small businesses in Hawaii because of a host of new tax, fee and mandate costs starting July 1, 2010.

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    SBH has not, and will not, take a position on the civil unions bill (HB 444), whose fate is now up to the Governor , who must act by July 6.

    “SBH focuses on business and investment measures, and solutions to improving Hawaii’s business climate for all business, not personal, social issues,” said Sam Slom, President and Executive Director of SBH. “Even those most supportive of civil unions, face the same staggering problems that job destruction, taxes, and more fees create for everyone,” he added.

    On July 1, more than a dozen new laws will increase taxes and the cost of living in Hawaii, according to SBH. Among the bills cited are:

    • Act 55 (SB 2611) increases fees for copies of vital statistics;
      Act 59 (HB 1985) increases Hawaii cigarette tax and also repeals tax deductions for political or campaign contributions, while doubling fees for business documents at DCCA, insurance licensingfees for broker’s licenses;
      Act 64 (SB 2159) hikes traffic abstract fee from $7 to $20;
      Act 73 (HB 2421) increases the tax on a barrel of petroleum from current 5¢ to $1.05;
      Act 90 (SB1230) increases tax by 50% on “large” cigars
      Act 117 (SB 2399) Mandates a mixed martial arts “event fee” and tax;
      Act  168 (HB 2503) establishes new fees for pesticide training workshops;
      Act 172 (HB 2775) new fees for the importation of certain agricultural products;
      Act 173 (SB 2523) increases agricultural inspecian fees;
      Act 175 (SB 2563) adds new fees for administration for mandatory solar installation program;
      Act 182 (SB 2842) levies a 1% new tax on permitted transfers in trust law
      Act 184 (SB 2346) increases applicant fees for Hawaii Teacher Standard Board;

    “In addition, there are still bills on the Governor’s desk that would increase taxes, eliminate exemptions and investment credits, as well as increased City & County of Honolulu and federal taxes looming,” Slom said.

    Submitted by SBH

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