Hawaii HB476 amends the capital gains tax for corporations, regulated investment companies, and real estate investment trusts.
Hawaii HB476 modifies the capital gains tax for corporations, regulated investment companies, and real estate investment trusts. It introduces a new tax structure that applies to net capital gains for these entities. The tax consists of a base tax on the taxable income reduced by the net capital gain, plus an additional tax on the net capital gain itself. This new tax structure is set to take effect on July 1, 2025.
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