Hawaii HB1125 amends the general excise tax to exclude certain amounts from taxable income.
Hawaii HB1125 modifies the general excise tax by excluding specific amounts from taxable income. These exclusions include amounts received under life insurance policies, accident or health insurance, workers' compensation, and federal taxes on sugar. Additionally, it excludes amounts received by blind, deaf, or totally disabled individuals or entities, and certain federal taxes collected by retailers. The changes take effect on January 1, 2026.
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