States / Hawaii / HB 759

HB 759 In Committee

RELATING TO TAX HAVEN ABUSE.

Introduced
In Committee
Floor
Crossed Over
Passed
Enacted

Part I: Effective 1/1/2026, 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. Part II: Establishes within DOTAX a Corporate Tax Law Task Force to annually review the State's corporate tax laws and recommend updates to close tax loopholes.

Chamber
House
Introduced
Jan 17, 2025
Last action
Jan 17, 2025 — Pending introduction.
Session
2026
Momentum
38 · Low