Conforms Hawaii income and estate tax laws to the Internal Revenue Code with specific exceptions and modifications.

This bill amends Hawaii's income and estate tax laws to align with the Internal Revenue Code, effective for taxable years beginning after December 31, 2025. It specifies which sections of the Internal Revenue Code apply and which do not, including modifications to deductions, credits, and exemptions. Certain provisions related to business expenses, charitable contributions, and retirement plans are excluded or altered. The bill also details adjustments to standard deduction amounts and modifies rules for casualty losses and medical savings accounts.

Conforms Hawaii income and estate tax laws to the Internal Revenue Code with specific exceptions and modifications.

This bill amends Hawaii's income and estate tax laws to align with the Internal Revenue Code, effective for taxable years beginning after December 31, 2025. It specifies which sections of the Internal Revenue Code apply and which do not, including modifications to deductions, credits, and exemptions. Certain provisions related to business expenses, charitable contributions, and retirement plans are excluded or altered. The bill also details adjustments to standard deduction amounts and modifies rules for casualty losses and medical savings accounts.