In an op-ed published in the Honolulu Star-Advertiser on Feb. 14, Jay Shidler and Lawrence Taff of The Shidler Group say state legislation to end the dividends paid deduction for REITs would hurt Hawaii.
Shidler and Taff rebutted the claim by the bill's supporters that the measure would raise tax revenue for the state. They also noted that "REIT investments have created significant, predictable tax revenue sources and thousands of permanent jobs."
"Our focus should be on attracting REIT capital investment rather than supposed lost income tax revenue," Shidler and Taff wrote.
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