Hawaii Senate bill in Session 2026.
Status: in_committee. Latest action: February 20, 2026.
Department of Taxation; Taxation; Corporations; Combined Reporting; State-by-State Reporting; Penalties.
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. (SD1)
| Date | Event | Detail |
|---|---|---|
| 0000-00-00 | Introduced | Bill introduced |
| 2026-02-20 | Status | in_committee |
| 2026-02-20 | Latest Action | Report adopted; Passed Second Reading, as amended (SD 1) and referred to WAM. |