Hawaii HB1458 imposes a state corporate income tax on advertising revenue from major social media platforms to fund broadband and journalism.

Hawaii HB1458 aims to tax advertising revenue earned by major social media platforms if the revenue is derived from content created within the State or from audiences located in the State. The tax revenue will be allocated to a broadband and digital equity special fund to support the expansion of broadband access and local journalism initiatives. The fund will be administered by the department and will be used to finance initiatives to expand broadband access and support local journalism. The Act will take effect on July 1, 2025.

Hawaii HB1458 imposes a state corporate income tax on advertising revenue from major social media platforms to fund broadband and journalism.

Hawaii HB1458 aims to tax advertising revenue earned by major social media platforms if the revenue is derived from content created within the State or from audiences located in the State. The tax revenue will be allocated to a broadband and digital equity special fund to support the expansion of broadband access and local journalism initiatives. The fund will be administered by the department and will be used to finance initiatives to expand broadband access and support local journalism. The Act will take effect on July 1, 2025.