Hawaii Revised Statutes 235-38.5 – Application
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Terms Used In Hawaii Revised Statutes 235-38.5
- Corporation: A legal entity owned by the holders of shares of stock that have been issued, and that can own, receive, and transfer property, and carry on business in its own name.
- State: means any state of the United States, the District of Columbia, the Commonwealth of Puerto Rico, any territory or possession of the United States, and any foreign country or political subdivision thereof. See Hawaii Revised Statutes 235-21
It is the intent of the legislature that in administering this chapter, this part, and sections State; residents, nonresidents, corporations, estates, and trusts” class=”unlinked-ref” datatype=”S” sessionyear=”2022″ statecd=”HI”>235-4 and 235-5 or as a member of or administering the multistate tax compact under chapter 255 the department of taxation shall not use or allow the use of the worldwide method of unitary taxation upheld in Container Corporation of America v. The Franchise Tax Board, 463 U.S. 159. It is the intent of the legislature that the department of taxation shall continue to apply this chapter, part, sections 235-4 and 235-5, and chapter 255 as they were applied before the above case was decided.