Hawaii HB947 disallows dividends paid deductions for real estate investment trusts, aligning their tax treatment with other corporations.

Hawaii HB947 amends the state tax code to disallow dividends paid deductions for real estate investment trusts, aligning their tax treatment with dividends paid by other corporations. This change affects the tax liability of real estate investment trusts operating within Hawaii, ensuring they are subject to the same tax treatment as other corporate dividends. The amendment takes effect for taxable years beginning after December 31, 2025.

Hawaii HB947 disallows dividends paid deductions for real estate investment trusts, aligning their tax treatment with other corporations.

Hawaii HB947 amends the state tax code to disallow dividends paid deductions for real estate investment trusts, aligning their tax treatment with dividends paid by other corporations. This change affects the tax liability of real estate investment trusts operating within Hawaii, ensuring they are subject to the same tax treatment as other corporate dividends. The amendment takes effect for taxable years beginning after December 31, 2025.