Hawaii gets low marks in business tax ranking
As a part of the Tax Foundation’s 2023 State Business Tax Climate Index, states’ individual income taxes were one of five major components examined across the board.
Hawaii ranked 46th, where it has stayed since 2021. It ranked 47th in 2020.
“States that score poorly on this component tend to have high tax rates and very progressive bracket structures,” the report said, adding those poor scoring states also tend to fail to index their brackets, exemptions, and deductions for inflation, among other shortcomings.
