Haw. Rev. Stat. § 393-46
Income directly attributable to the business
Hawaii · Hawaii Revised Statutes Chapter 393 — Prepaid Health Care Act · Status: effective
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- Citation
- Haw. Rev. Stat. § 393-46, Income directly attributable to the business, Hawaii, version 1 as recorded 2026-10-03, yourstate.us, https://yourstate.us/provision/2423503
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Full text
(a) "Income directly attributable to the business" means gross profits from the business minus deductions for:
(1) Compensation of officers;
(2) Salaries and wages, except wages paid by an individual proprietor to oneself;
(3) Repairs;
(4) Taxes on business and business property;
(5) Business advertising;
(6) Amounts contributed to employee benefit plans;
(7) Interest on business indebtedness;
(8) Rent on business property; and
(9) Other expenses necessary for the current conduct of business.
(b) Deductions shall not include:
(1) Bad debts;
(2) Contributions or gifts, other than those listed under subsection (a)(6);
(3) Amortization and depreciation; or
(4) Losses by fire, storm, casualty, or theft.
(c) The director may promulgate rules and regulations necessary to define income directly attributable to business for the purpose of section 393-45.