Hawaii SB1444 amends the general excise tax to exclude certain amounts from taxable income.
Hawaii SB1444 modifies Section 237-24 of the Hawaii Revised Statutes to exclude several types of income from the general excise tax. These exclusions include amounts received under life insurance policies, damages for personal injuries, property acquired by gift or inheritance, and certain payments related to cooperative housing corporations. The bill also excludes income from the Community Care program, adult residential care homes, and federal taxes on sugar. The changes will take effect on January 1, 2026.
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