Hawaii SB628 amends the state's general excise tax rates, increasing them for various business activities.

Hawaii SB628 modifies the state's general excise tax rates, raising them for several business activities. The bill increases the tax rate to five percent for businesses engaged in manufacturing, selling tangible personal property, and providing certain services. It also imposes a tax on insurance producers and receipts of sugar benefit payments. The bill specifies that the tax applies to gross income or proceeds of sales unless specifically exempted. The increased tax revenues will be distributed to the teacher salary special fund and the school facilities special fund.

Hawaii SB628 amends the state's general excise tax rates, increasing them for various business activities.

Hawaii SB628 modifies the state's general excise tax rates, raising them for several business activities. The bill increases the tax rate to five percent for businesses engaged in manufacturing, selling tangible personal property, and providing certain services. It also imposes a tax on insurance producers and receipts of sugar benefit payments. The bill specifies that the tax applies to gross income or proceeds of sales unless specifically exempted. The increased tax revenues will be distributed to the teacher salary special fund and the school facilities special fund.