Category Archives: Franchise (HRS 241)

For financial institutions

SB 2548

SUBJECT: INCOME, FRANCHISE, Periodic Review of Exemptions, Deductions, and Credits, Surcharge on Beneficiaries of Tax Benefits

BILL NUMBER:  SB 2548

INTRODUCED BY: TOKUDA, BAKER, DELA CRUZ, ENGLISH, GALUTERIA, INOUYE, KEITH-AGARAN, KIDANI, NISHIHARA, SHIMABUKURO

EXECUTIVE SUMMARY:  This bill would require the State Auditor to periodically review the myriad exemptions, deductions, and other tax benefits now provided under chapters 235 and 241.  The cost of the review would be recovered by a surcharge on those who now take the exemptions.  This type of review, however, should already be within the purview of the Tax Review Commission that is provided for in our constitution and is supposed to be appointed this year (given that it wasn’t appointed last year when it was supposed to happen).  In addition, the surcharge would be unfair to the recipients of income that is exempt by design of the tax system.

Continue reading SB 2548

SB 3075; HB 1610 (Identical)

SUBJECT: INCOME, FRANCHISE, Periodic Review of Exemptions, Deductions, and Credits, Surcharge on Beneficiaries of Tax Benefits

BILL NUMBER:  SB 3075; HB 1610 (Identical)

INTRODUCED BY: SB by L. THIELEN, Espero, Gabbard, Ihara, Kim, Nishihara; HB by THIELEN

EXECUTIVE SUMMARY:  This bill would require an owner of a trailer bought out-of-state and subsequently brought into the State to provide proof of payment of the use tax with the application for registration unless otherwise exempt.  It applies to trailers the requirements now applied to other motor vehicles, and is reasonable.

Continue reading SB 3075; HB 1610 (Identical)