Hawaii SB2920 amends tax laws to adjust credits, exemptions, and definitions related to sales, use, and excise taxes.

Hawaii SB2920 modifies various tax provisions to adjust credits, exemptions, and definitions. It allows a tax credit for eligible depreciable tangible personal property placed in service within Hawaii after December 31, 2009. The bill also provides a credit for sales or use taxes paid to another state, subject to certain conditions. Additionally, it exempts certain transactions from the tax, including those related to securities, exchange members, and specific services or contracting. The bill further amends definitions and repeals certain sections to streamline tax regulations.

Hawaii SB2920 amends tax laws to adjust credits, exemptions, and definitions related to sales, use, and excise taxes.

Hawaii SB2920 modifies various tax provisions to adjust credits, exemptions, and definitions. It allows a tax credit for eligible depreciable tangible personal property placed in service within Hawaii after December 31, 2009. The bill also provides a credit for sales or use taxes paid to another state, subject to certain conditions. Additionally, it exempts certain transactions from the tax, including those related to securities, exchange members, and specific services or contracting. The bill further amends definitions and repeals certain sections to streamline tax regulations.