Love-Hate Relationship with Tourism (Talking Tax)

Published: March 9, 2023, 9:28 p.m.

Need It, Want It, Hate it.  The hosts for this show are Jay Fidell and Tom Yamachika.  
\n
\nHere in Hawaii, we officially have a love-hate relationship with tourism.
\n
\nHow do we love it?  Look no further than the Hawaii Tourism Authority, which has been awarding lucrative marketing contracts \u2013 tens of millions of dollars per year.
\n
\nHow do we hate it?  We have been taxing the bejeebers out of tourists.  Tourists looking at their hotel folios are greeted with a state TAT of 10.25%, a county TAT of 3%, a state general excise tax of 4%, and, for most counties, a county surcharge on state tax of 0.5%.  That\u2019s a whopping combined tax rate of close to 18% under current law.
\n
\nWith all of these mixed messages going out to what is, happily or unhappily, our No. 1 economic driver, the possibility of economic waste looms large.
\n
\nThe ThinkTech YouTube Playlist for this show is https://www.youtube.com/playlist?list=PLQpkwcNJny6lmEllOKP493URXssFT4N7G
\n
\nPlease visit our ThinkTech website at https://thinktechhawaii.com and see our Think Tech Advisories at https://thinktechadvisories.blogspot.com.