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HI SB2998

Bill

Official Source

Status

Engrossed

3/6/2012

Primary Sponsor

Glenn Wakai

Click for details

Origin

Senate

2012 Regular Session

AI Summary

  • Incorporates fairness provisions into Hawaii tax laws similar to those in the federal Internal Revenue Code for calculating tax penalties
  • Prohibits the stacking of tax underpayment penalties to prevent multiple penalties from accumulating on a single underpayment
  • Received support from Chun, Kerr, Dodd, Beaman & Wong, LLLP and one individual testifier
  • Department of Taxation and Tax Foundation of Hawaii provided comments on the measure
  • Committee on Judiciary recommends passage and referral to the Committee on Finance

Legislative Description

Taxation; Penalties

Last Action

(H) Passed Second Reading and referred to the committee(s) on FIN with none voting aye with reservations; none voting no (0) and Herkes excused (1).

3/23/2012

Committee Referrals

Ways and Means1/27/2012

Full Bill Text

No bill text available