SB2587 amends the Hawaii Revenue Code to impose an alternative tax on net capital gains for corporations, regulated investment companies, and real.

SB2587 amends the Hawaii Revenue Code to introduce an alternative tax on net capital gains for corporations, regulated investment companies, and real estate investment trusts. This tax is applied in lieu of the tax imposed by section 235-71. The bill specifies that the tax consists of a sum computed on the taxable net capital gain and a tax of nine percent on the amount of taxable income exceeding the net capital gain. This Act is set to take effect on July 1, 2026.

SB2587 amends the Hawaii Revenue Code to impose an alternative tax on net capital gains for corporations, regulated investment companies, and real.

SB2587 amends the Hawaii Revenue Code to introduce an alternative tax on net capital gains for corporations, regulated investment companies, and real estate investment trusts. This tax is applied in lieu of the tax imposed by section 235-71. The bill specifies that the tax consists of a sum computed on the taxable net capital gain and a tax of nine percent on the amount of taxable income exceeding the net capital gain. This Act is set to take effect on July 1, 2026.