Hawaii SB13 establishes an aquaculture investment tax credit for businesses engaged in aquatic plant and animal farming.

Hawaii SB13 introduces an aquaculture investment tax credit for businesses involved in the propagation, cultivation, or farming of aquatic plants and animals in controlled environments. The credit is deductible from the taxpayer's net income tax liability for the year of investment and the following four years. The bill outlines specific percentages for each year and requires taxpayers to submit a certified statement to the director of taxation annually. The department of taxation must verify the nature and amount of qualifying investments and certify the tax credit amount.

Hawaii SB13 establishes an aquaculture investment tax credit for businesses engaged in aquatic plant and animal farming.

Hawaii SB13 introduces an aquaculture investment tax credit for businesses involved in the propagation, cultivation, or farming of aquatic plants and animals in controlled environments. The credit is deductible from the taxpayer's net income tax liability for the year of investment and the following four years. The bill outlines specific percentages for each year and requires taxpayers to submit a certified statement to the director of taxation annually. The department of taxation must verify the nature and amount of qualifying investments and certify the tax credit amount.