HONOLULU (AP) - The Hawaii Legislature is passing more than $600 million worth of tax increases on businesses, vehicles and personal income.The House and Senate voted Tuesday to approve the measures, which aim to raise enough money to balance the state's budget over the next two years.
The largest tax measure removes exemptions to the state's general excise tax currently granted to businesses including subcontractors, subleasors and Hawaiian Airlines. The bill would raise about $200 million a year.
The next-biggest legislation standardizes rental car surcharges at $7.50 per day and diverts $60 million of those fees to the general fund.
Another bill, worth $52 million a year, targets higher-income earners by removing their state income tax deduction and limiting their itemized deductions. It also delays increases in standard deductions and personal exemptions.
(Copyright 2011 by The Associated Press. All Rights Reserved.)
