HawaiiRELATING TO TAX HAVEN ABUSE.
What it does
Effective 1/1/2028, requires corporations to include in their income the income of all foreign subsidiaries to the State; applies the State's apportionment formula to determine the share of reported profits subject to the appropriate tax, which shall be deposited into the state general fund; and requires corporations to report all profits, losses, revenues, and inter-company transactions made and all taxes paid in other states. Establishes penalties for violations. Effective 7/1/2050.
More detail
(SD1)
Where do you stand?
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Where it stands
- Introduced
- Passed Senate
- Passed House
- To Governor
- Became Law
Looking ahead
No hearings or votes scheduled.
History
- 2026
- Feb 20Reported from CPN/JDC (Stand. Com. Rep. No. 2611) with recommendation of passage on Second Reading, as amended (SD 1) and referral to WAM.Latest
- Feb 20Report adopted; Passed Second Reading, as amended (SD 1) and referred to WAM.Minor
- Feb 17The committee(s) on JDC recommend(s) that the measure be PASSED, WITH AMENDMENTS. The votes in JDC were as follows: 4 Aye(s): Senator(s) Rhoads, Gabbard, San Buenaventura, Awa; Aye(s) with reservations: none ; 0 No(es): none; and 1 Excused: Senator(s) Chang.Minor
- Vote recorded The committee(s) on JDC recommend(s) that the measure be PASSED, WITH AMENDMENTS. Result: pass.Upper
- Vote recorded The committee(s) on CPN recommend(s) that the measure be PASSED, WITH AMENDMENTS. Result: pass.Upper
- Feb 17The committee(s) on CPN recommend(s) that the measure be PASSED, WITH AMENDMENTS. The votes in CPN were as follows: 4 Aye(s): Senator(s) Keohokalole, Fukunaga, Awa; Aye(s) with reservations: Senator(s) Lamosao ; 0 No(es): none; and 1 Excused: Senator(s) McKelvey.Minor
- Feb 16The committee(s) on CPN/JDC has rescheduled its public hearing to 02-17-26 9:30AM; CR 229 & Videoconference.
- Feb 13The committee(s) on CPN/JDC has scheduled a public hearing on 02-17-26 9:45AM; Conference Room 229 & Videoconference.
- Jan 30Referred to CPN/JDC, WAM.Minor
- Jan 26Passed First Reading.Minor
- Jan 23Introduced.Introduced