SB2469 modifies Hawaii's estate and generation-skipping transfer tax, introducing an unrealized gains surcharge and adjusting exclusion amounts.

SB2469 amends Hawaii's estate and generation-skipping transfer tax by imposing an unrealized gains surcharge of three percent on property transfers where the assessed fair market value exceeds the transferee's basis by $2,000,000 or more. It also adjusts the applicable exclusion amount for estates, setting it at either the federal amount for owner-occupied residences or bona fide farms, or $3,000,000 adjusted annually for inflation for other estates.

SB2469 modifies Hawaii's estate and generation-skipping transfer tax, introducing an unrealized gains surcharge and adjusting exclusion amounts.

SB2469 amends Hawaii's estate and generation-skipping transfer tax by imposing an unrealized gains surcharge of three percent on property transfers where the assessed fair market value exceeds the transferee's basis by $2,000,000 or more. It also adjusts the applicable exclusion amount for estates, setting it at either the federal amount for owner-occupied residences or bona fide farms, or $3,000,000 adjusted annually for inflation for other estates.