HONOLULU, Hawaiʻi — The Department of Taxation (DOTAX) has announced a public hearing to discuss proposed amendments to the Hawaii Administrative Rules regarding how Pass-Through Entities (PTEs) are taxed in the State of Hawaiʻi.
The Agenda: Proposed Changes
The hearing will focus on amendments to sections 18-235-51.5-01 through 08 and 18-235-91.5-01. These updates aim to clarify:
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- Entity-Level Tax: The process for PTEs to elect to be taxed at the entity level.
- Payment Timing: The specific manner and timing for paying the PTE tax.
- Tax Credits: How qualified members of an electing PTE can officially claim the PTE tax credit.