REITs own some major pieces of real estate in Hawaii. There are about 20 publicly held REITs that collectively own about $6 billion in Hawaii commercial real estate. They do pay taxes, including our General Excise Tax (GET), because rent income that the REITs receive is taxable for GET purposes. They also pay real property taxes to the counties in which they own property.
So what is a REIT ? How does it affect you ? Read On
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