Hawaii · statute · Haw. Rev. Stat. ch. 235 · 124 active provisions
"Biotechnology" means fundamental knowledge regarding the function of biological systems from the macro level to the molecular and subatomic levels that has application to development including the development of novel products, services, technologies, and subtechnologies from insights gained from research advances tha…
(a) For all taxable years beginning after December 31, 2024, as used in this chapter, except as provided in this section and sections 235-2.35, 235-2.4, and 235-2.45, "Internal Revenue Code" means subtitle A, chapter 1, of the federal Internal Revenue Code of 1986, as amended as of December 31, 2024, as it applies to t…
The following sections of the federal Internal Revenue Code of 1986, as amended, shall be operative for purposes of this chapter: (1) Section 6038D (with respect to information with respect to foreign financial assets). With respect to persons required to report information under this section, section 6662(j) (with res…
(a) Section 63 (with respect to taxable income defined) of the Internal Revenue Code shall be operative for the purposes of this chapter, subject to the following: (1) Section 63(c)(1)(B) (relating to the additional standard deduction), 63(c)(1)(C) (relating to the real property tax deduction), 63(c)(1)(D) (relating to…
(a) Section 641 (with respect to imposition of tax) of the Internal Revenue Code shall be operative for the purposes of this chapter subject to the following: (1) The deduction for exemptions shall be allowed as provided in section 235-54(b); (2) The deduction for contributions and gifts in determining taxable income s…
(a) Reference in provisions of the Internal Revenue Code which are operative in this State to provisions in the Internal Revenue Code which are not operative in this State shall be considered inoperative for the purposes of determining gross income, adjusted gross income, ordinary income and loss, and taxable income; p…
(a) It is the intent of this chapter, in addition to the essential purpose of raising revenue, to conform the income tax law of the State as closely as may be with the Internal Revenue Code in order to simplify the filing of returns and minimize the taxpayer's burdens in complying with the income tax law. The rules and…
(a) Residents. The tax imposed by this chapter applies to the entire income of a resident, computed without regard to source in the State. (b) Nonresidents. In the case of a nonresident, the tax applies to the income received or derived from property owned, personal services performed, trade, or business carried on, an…
A person that lacks physical presence in the State is presumed to be systematically and regularly engaging in business in the State and taxable under this chapter if, during the current or preceding calendar year: (1) The person engages in two hundred or more business transactions with persons within the State; or (2)…
(a) There shall be excluded from gross income any intangible income, such as dividends and interest, earned by a trust sited in this State to the extent that, during the taxable year of the trust, the beneficial interest in the trust shall be held by a beneficiary or beneficiaries residing outside this State. This excl…
(a) This section applies to income not subject to part II of this chapter, including nonbusiness income and certain section 235-22 income. (b) Income (including gains), also losses, from property owned in the State and from any other source in the State shall be determined by an allocation and separate accounting so fa…
(a) There shall be allowed as a deduction from gross income the amount, not to exceed $5,000, paid in cash during the taxable year by an individual taxpayer to an individual housing account established for the individual's benefit to provide funding for the purchase of the individual's first principal residence. A dedu…
(a) For the purposes of sections 235-21 to 235-39, a foreign corporation engaged in the business of manufacturing without the State, having its manufactured products warehoused in this State by another person who is engaged in the business of warehousing in this State and whose compensation for providing the warehousin…
(a) There shall be excluded from gross income, adjusted gross income, and taxable income: (1) Income not subject to taxation by the State under the Constitution and laws of the United States; (2) Rights, benefits, and other income exempted from taxation by section 88-91, having to do with the state retirement system, a…
(a) In addition to the exclusions in section 235-7, there shall be excluded from gross income, adjusted gross income, and taxable income, amounts received by an individual or a qualified high technology business as royalties and other income derived from any patents, copyrights, and trade secrets: (1) Owned by the indi…
(a) In the case of any child to whom this section applies, the tax imposed by this chapter shall be equal to the greater of: (1) The tax imposed by section 235-51 without regard to this section, or (2) The sum of: (A) The tax which would be imposed by section 235-51 if the taxable income of such child for the taxable y…
Except as provided in sections 235-61 to 235-67 relating to withholding and collection of tax at source, and section 235-2.4 relating to "unrelated business taxable income", the following persons and organizations shall not be taxable under this chapter: banks, building and loan associations, financial services loan co…
(a) Notwithstanding any law to the contrary, all income earned and proceeds derived from stock options or stock, including stock issued through the exercise of stock options or warrants, from a qualified high technology business or from a holding company of a qualified high technology business by an employee, officer,…
(a) Each individual or corporate taxpayer that files an individual or corporate net income tax return for a taxable year may claim a tax credit under this section against the Hawaii state individual or corporate net income tax. The tax credit may be claimed for every eligible renewable energy technology system that is…
(a) A sale by an organization exempt under section 501(c)(3), or treated as an estate or trust under Subchapter J of the Internal Revenue Code to a lessee of the entire interest in the land of the lessor organization, estate, or trust shall be an involuntary conversion of property used in trade or business or a capital…
(a) Any taxpayer who files an individual income tax return for a taxable year may claim an income tax credit under this section against the Hawaii state individual net income tax. (b) The tax credit shall be $25; provided that the taxpayer purchases one or more new child passenger restraint systems in the tax year for…
[Repeal and reenactment on January 1, 2033. L 2022, c 217, §4.] (a) Any law to the contrary notwithstanding, there shall be allowed to each taxpayer subject to the taxes imposed by this chapter, an income tax credit that shall be deductible from the taxpayer's net income tax liability, if any, imposed by this chapter f…
This chapter shall not apply to amounts received as a deposit beverage container deposit collected under part VIII of chapter 342G.
(a) Subject to subsection (b), there shall be allowed as a deduction from gross income the amount, not to exceed $3,000 per exceptional tree, for amounts paid, excluding interest paid or accrued thereon, during the taxable year by an individual taxpayer for expenditures to maintain, on the taxpayer's real property, eac…
The department may assess and collect a fee for the issuance of any comfort letter of the department. All fees collected under this section shall be deposited into the tax administration special fund established under section 235-20.5.