HI HB2045

Repeals Act 155, Session Laws of Hawaii 2010, which required businesses with general excise tax exemptions to register, file timely tax returns, and expressly claim their exemptions.

Removes the forfeiture provision that strips all general excise tax benefits when a taxpayer fails to file the annual form G-49 within twelve months of its due date.

Eliminates personal trust liability imposed on responsible persons for an entity's unpaid general excise tax under Act 155.

Addresses concerns that Act 155 created an administrative burden on taxpayers without proportional revenue benefits and caught many taxpayers unaware with unexpected penalties for filing omissions.