SB1465 amends Hawaii's pass-through entity tax to allow credits against future tax liabilities.

SB1465 modifies Hawaii's pass-through entity tax by allowing qualified members to credit any excess tax against future tax liabilities. Members cannot deduct the tax from their state taxable income. The changes apply to taxable years beginning after December 31, 2024.

SB1465 amends Hawaii's pass-through entity tax to allow credits against future tax liabilities.

SB1465 modifies Hawaii's pass-through entity tax by allowing qualified members to credit any excess tax against future tax liabilities. Members cannot deduct the tax from their state taxable income. The changes apply to taxable years beginning after December 31, 2024.