HI SB778

Adds a new requirement that taxpayers claiming general excise tax (GET) benefits must owe less than 50% of their total GET liability for the taxable year.

Defines "reasonable cause" for the Director of Taxation to waive denial of GET benefits, including situations where federal law prohibits taxation, the person is not "engaging in business," amounts are not "gross income," or specific exemptions apply.

Establishes personal liability for officers, members, managers, or other responsible persons for any unpaid general excise tax liability, removing previous provisions that imposed liability for interest and penalties.

Limits personal liability to general excise taxes that became due during the period the responsible person had control, supervision, or responsibility for the taxpayer.

Effective date July 1, 2030, applying to gross income or proceeds received by applicable taxpayers on or after that date.