Review for 2022 and every fifth year thereafter
HRS §23-94
in effect23-94. Review for 2022 and every fifth year thereafter
(a) The credits and exclusions under the income tax listed in subsection (c) shall be reviewed in 2022 and every fifth year thereafter.
(b) The auditor shall submit the findings and
recommendations of the reviews to the legislature and governor at least twenty
days prior to the convening of the immediately following regular session.
(c) This section shall apply to the following:
(1) Section 235-4.5(a)--Exclusion of intangible
income earned by a trust sited in this State;
(2) Section 235-4.5(b)--Exclusion of intangible
income of a foreign corporation owned by a trust sited in this State;
(3) Section 235-4.5(c)--Credit to a resident
beneficiary of a trust for income taxes paid by the trust to another state;
(4) Sections 235-55 and 235-129--Credit for income
taxes paid by a resident taxpayer to another jurisdiction;
(5) Section 235-71(c)--Credit for a regulated
investment company shareholder for the capital gains tax paid by the company;
(6) Section 235-110.6--Credit for fuel taxes paid by
a commercial fisher;
(7) Section 235-110.93--Credit for important
agricultural land qualified agricultural cost;
(8) Section 235-110.94--Credit for organically
produced agricultural products;
(9) Section 235-129(b)--Credit to a shareholder of an
S corporation for the shareholder's pro rata share of the tax credit earned by
the S corporation in this State; and
(10) Section 209E-10--Credit for a qualified business
in an enterprise zone; provided that the review of this credit pursuant to this
part shall be limited in scope to income tax credits.
[L 2016, c 245, pt of §2;
am L 2017, c 177, §17]
Source: Hawaii State Legislature (capitol.hawaii.gov), via Internet Archive capturesURL: http://www.capitol.hawaii.gov/hrscurrent/Vol01_Ch0001-0042F/HRS0023/HRS_0023-0094.htmFetched: 11/10/2026