Hawaii SB2738 mandates corporate tax reporting on foreign subsidiaries and inter-company transactions to prevent tax haven abuse.

Hawaii SB2738 amends state corporate tax laws to require corporations to report income from foreign subsidiaries and inter-company transactions. This bill establishes a corporate tax law task force to review and recommend updates to state corporate tax laws. The bill aims to close corporate tax loopholes and increase state revenue by ensuring transparency in corporate tax reporting. The new provisions will take effect on January 1, 2027.

Hawaii SB2738 mandates corporate tax reporting on foreign subsidiaries and inter-company transactions to prevent tax haven abuse.

Hawaii SB2738 amends state corporate tax laws to require corporations to report income from foreign subsidiaries and inter-company transactions. This bill establishes a corporate tax law task force to review and recommend updates to state corporate tax laws. The bill aims to close corporate tax loopholes and increase state revenue by ensuring transparency in corporate tax reporting. The new provisions will take effect on January 1, 2027.