Hawaii Revised Statutes 235-29 – Apportionment of business income; percentage
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Terms Used In Hawaii Revised Statutes 235-29
- Business income: means income arising from transactions and activity in the regular course of the taxpayer's trade or business and includes income from tangible and intangible property if the acquisition, management, and disposition of the property constitute integral parts of the taxpayer's regular trade or business operations. See Hawaii Revised Statutes 235-21
- Sales: means all gross receipts of the taxpayer not allocated under §§ 235-24 to 235-28. See Hawaii Revised Statutes 235-21
- 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
All business income shall be apportioned to this State by multiplying the income by a fraction, the numerator of which is the property factor plus the payroll factor plus the sales factor, and the denominator of which is three.