The ongoing departure of residents of Hawai’i is draining the state’s tax base. According to a research and planning officer at the Department of Taxation, Seth Colby, outmigration since 2020
According to Seth Colby, Department of Taxation research and planning officer, outmigration since 2020 has resulted in the loss of $185 million in general excise taxes and state income taxes, or approximately $61.8 million per year. To place that amount into context, one percentage point of the Council on Revenues forecast, which determines how much can be spent on the state budget, represents approximately $100 million.
The ongoing departure of residents of Hawai’i is draining the state’s tax base. According to a research and planning officer at the Department of Taxation, Seth Colby, outmigration since 2020
The ongoing departure of residents of Hawai’i is draining the state’s tax base. According to a research and planning officer at the Department of Taxation, Seth Colby, outmigration since 2020