Hawaii HB1150 amends tax collection statutes to modify limitation periods and conditions for tax assessments and collections.

Hawaii HB1150 amends various sections of the Hawaii Revised Statutes to modify the limitation periods for tax assessments and collections. It sets a three-year period for assessing or levying income, excise, license, and conveyance taxes, with exceptions for certain conditions like pending offers in compromise, taxpayer absence, or court-controlled assets. The bill also suspends the statute of limitations on collections for assessments on appeal before the effective date of the Act. The changes apply to taxes assessed after the bill's approval.

Hawaii HB1150 amends tax collection statutes to modify limitation periods and conditions for tax assessments and collections.

Hawaii HB1150 amends various sections of the Hawaii Revised Statutes to modify the limitation periods for tax assessments and collections. It sets a three-year period for assessing or levying income, excise, license, and conveyance taxes, with exceptions for certain conditions like pending offers in compromise, taxpayer absence, or court-controlled assets. The bill also suspends the statute of limitations on collections for assessments on appeal before the effective date of the Act. The changes apply to taxes assessed after the bill's approval.