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The Honolulu Advertiser
Updated at 1:45 p.m., Thursday, April 10, 2008

Hawaii's taxes 12th worst for businesses, group says

Advertiser Staff

HAWAI‘I RANKINGS

Included in the group’s Hawaiçi rankings were:

Category/Rate/Ranking

Top Personal Income Tax Rate/8.25 percent/7th Worst

Top Capital Gains Tax Rate/7.25 percent/10th Worst

Top Corporate Income Tax Rate/6.4 percent/20th Best

Top Corporate Capital Gains Tax Rate/4.0 percent/6th Best

State and Local Property Taxes*/1.86 percent/6th Best

Sales, Gross Receipts and Excise*/6.23 percent/2nd Worst

Adjusted Unemployment Taxes*/4.93 percent/5th Worst

State Gas Taxes per gallon/32.6 cents/9th Worst

State Diesel Taxes per gallon/46.6 cents/2nd Worst

*As a share of personal income

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Hawai'i ranks as the 12th-worst state when it comes to taxes businesses face, according to a ranking by the Small Business & Entrepreneurship Council, an Oakton, Va.-based business advocacy group.

Hawai'i's ranking was pulled down by high scores when it came to top personal tax rates, top capital gains tax rates, sales, gross receipts and excise taxes, unemployment taxes and diesel taxes. In all, the group looked at 16 different tax measures to rank states and the District of Columbia.

The group said the District of Columbia had the worst tax environment for businesses, while South Dakota had the best.