Andrew Kato () (University of Hawaii Economic Research Organization, University of Hawaii at Manoa) Sumner La Croix () (Department of Economics, University of Hawaii at Manoa, University of Hawaii Economic Research Organization, University of Hawaii at Manoa) James Mak () (Department of Economics, University of Hawaii at Manoa, University of Hawaii Economic Research Organization, University of Hawaii at Manoa)
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In 2001, the State of Hawaii established a 100 percent tax credit to promote investment in several targeted high technology industries. We chronicle the evolution of Hawaii’s high technology tax credits, describe their provisions, and catalog a host of problems associated with determining whether or not the tax credits have achieved results desired by lawmakers. We conclude that it was a mistake to initiate a generous tax credit program without adequate monitoring by public agencies or disclosure of how public funds are being used by recipients of tax credits.
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Paper provided by University of Hawaii at Manoa, Department of Economics in its series Working Papers with number
200914.
Find related papers by JEL classification: H25 - Public Economics - - Taxation, Subsidies, and Revenue - - - Business Taxes and Subsidies H71 - Public Economics - - State and Local Government; Intergovernmental Relations - - - State and Local Taxation, Subsidies, and Revenue O38 - Economic Development, Technological Change, and Growth - - Technological Change - - - Government Policy
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