Report Title:

General Excise Tax

Description:

Provides unspecified percentages with respect to changing the general excise tax.

THE SENATE

S.B. NO.

586

TWENTY-SECOND LEGISLATURE, 2003

 

STATE OF HAWAII

 


 

A BILL FOR AN ACT

 

RELATING TO TAXATION.

 

BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF HAWAII:

 

SECTION 1. Section 237-13.3, Hawaii Revised Statutes, is amended by amending subsection (a) to read as follows:

"(a) Sections 237-4(a)(8), 237-4(a)(10), 237-4(a)(13), 237-13(2)(A), 237-13(4)(A), and 237-13(6)(A) to the contrary notwithstanding, instead of the tax levied under section 237-13(2)(A) on wholesale sales subject to section 237-4(a)(8)(B), under section 237-13(4)(A) on a wholesaler subject to section 237-4(a)(13), and under section 237-13(6)(A) on a wholesaler subject to section 237-4(a)(10) at one-half of one per cent, during the period January 1, [2000,] 2003, to December 31, 2005, the tax shall be as follows:

(1) [In calendar year 2000, 3.5 per cent;

(2) In calendar year 2001, 3.0 per cent;

(3) In calendar year 2002, 2.5 per cent;

(4) In calendar year 2003, 2.0 per cent;

(5)] In calendar year 2004, [1.5] ___ per cent;

[(6)] (2) In calendar year 2005, [1.0] ___ per cent; and

[(7)] (3) In calendar year 2006 and thereafter, the tax shall be [0.5] ___ per cent."

SECTION 2. Statutory material to be repealed is bracketed and stricken. New statutory material is underscored.

SECTION 3. This Act shall take effect on July 1, 2003 and shall apply to taxable years beginning after December 31, 2003.

INTRODUCED BY:

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