HI SB2701 | 2024 | Regular Session
Status
Spectrum: Partisan Bill (Democrat 1-0)
Status: Introduced on January 19 2024 - 25% progression
Action: 2024-01-24 - Referred to WAM.
Pending: Senate Ways and Means Committee
Text: Latest bill text (Introduced) [HTML]
Status: Introduced on January 19 2024 - 25% progression
Action: 2024-01-24 - Referred to WAM.
Pending: Senate Ways and Means Committee
Text: Latest bill text (Introduced) [HTML]
Summary
Reduces the tax rate for pass-through entities electing to pay Hawaii income taxes at the entity level. Allows certain members of pass-through entities entitled to a tax credit to use the credit against the member's net income tax liability in subsequent years until exhausted.
Title
Relating To Taxation.
Sponsors
| Sen. Chris Lee [D] |
History
| Date | Chamber | Action |
|---|---|---|
| 2024-01-24 | Senate | Referred to WAM. |
| 2024-01-22 | Senate | Passed First Reading. |
| 2024-01-19 | Senate | Introduced. |
Subjects
Carry Forward
Department of Taxation
Income Tax Pass-Through Entity Taxation Election
Partnerships
S Corporations
Tax Credit
Department of Taxation
Income Tax Pass-Through Entity Taxation Election
Partnerships
S Corporations
Tax Credit
Hawaii State Sources
| Type | Source |
|---|---|
| Summary | https://www.capitol.hawaii.gov/session/measure_indiv.aspx?billtype=SB&billnumber=2701&year=2024 |
| Text | https://www.capitol.hawaii.gov/sessions/session2024/bills/SB2701_.HTM |
