SB681

Hawaii SB681 modifies the general excise tax exemptions for agricultural and construction businesses.

Hawaii SB681 amends the state general excise tax exemptions. It exempts contractors licensed under chapter 444 from the general excise tax for construction within an enterprise zone performed for a qualified business within an enterprise zone or a business approved by the department to enroll in the enterprise zone program. The exemption lasts up to seven years. Additionally, it modifies the exemption for qualified businesses engaged in the manufacturing of tangible personal property or the producing or processing of agricultural products, extending the exemption period to up to ten years.