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2022 Hawaii Revised Statutes
Title 14. Taxation
241. Taxation of Banks and Other Financial Corporations
- 241-1 Definitions.
- 241-1.5 Time of application of tax and other provisions.
- 241-2 Imposition of tax on national banking associations; construction; exemption from other taxes, except real property tax.
- 241-3 Imposition of tax on other banks, building and loan associations, financial services loan companies, financial corporations, small business investment companies, trust companies, mortgage loan companies, financial holding companies, development companies, and subsidiaries.
- 241-3.5 Deduction from entire net income.
- 241-4 Measure and rate of tax.
- 241-4.3 Alternative tax. Section 1201 (with respect to alternative tax for corporations) of the Internal Revenue Code shall be operative for the purposes of this chapter and shall be applied as set forth in this section. If for any taxable year a bank, building and loan association, development company, financial corporation, financial services loan company, small business investment company, mortgage loan company, financial holding company, or trust company has a net capital gain, then, in lieu of the tax imposed by section 241-4, there is hereby imposed a tax (if such tax is less than the tax imposed under section 241-4) which shall consist of the sum of: (1) A tax computed on the taxable income reduced by the amount of the net capital gain, at the rates and in the manner as if this section had not been enacted; plus (2) Four per cent of the net capital gain for the taxable year. [L 1992, c 106, §9]
- 241-4.4 Capital infrastructure tax credit.
- 241-4.5 Capital goods excise tax credit.
- 241-4.6 Renewable energy technologies; income tax credit.
- 241-4.7 Low-income housing; income tax credit.
- 241-4.8 High technology business investment tax credit.
- 241-5 Returns; payment of tax.
- 241-6 Chapter 235 applicable.
- 241-7 Disposition of funds.
Note
Prior law: RL 1945, c 97; am L 1951, c 258; am L 1953, c 125.
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