Hawaii SB125 amends state enterprise zone tax exemptions and credits for qualified businesses.

Hawaii SB125 amends the state enterprise zone program by adjusting tax exemptions and credits for qualified businesses. It modifies the eligibility criteria for businesses to be designated as qualified businesses within enterprise zones. The bill also changes the tax credit percentages for businesses engaged in manufacturing or agricultural production, extending the credit period for these businesses. The amendments apply to taxable years beginning after December 31, 2025.

Hawaii SB125 amends state enterprise zone tax exemptions and credits for qualified businesses.

Hawaii SB125 amends the state enterprise zone program by adjusting tax exemptions and credits for qualified businesses. It modifies the eligibility criteria for businesses to be designated as qualified businesses within enterprise zones. The bill also changes the tax credit percentages for businesses engaged in manufacturing or agricultural production, extending the credit period for these businesses. The amendments apply to taxable years beginning after December 31, 2025.