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HI HB1492
Bill
Status
1/19/2022
Primary Sponsor
Kyle Yamashita
Click for details
AI Summary
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Adds new section to Chapter 231, Hawaii Revised Statutes establishing penalties for failure to timely respond to or acknowledge correspondence from the Department of Taxation regarding record inspections or examinations.
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Imposes a civil penalty of 25% of any state taxes owed based on the records, with a maximum penalty of $10,000, for persons who fail to respond to the department.
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Allows the Director of Taxation to waive the penalty for reasonable cause.
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Takes effect on July 1, 2022 and does not affect rights, duties, or penalties that arose before the effective date.
Legislative Description
Relating To Taxation.
Penalties
Last Action
Passed Second Reading as amended in HD 1 and referred to the committee(s) on FIN with none voting aye with reservations; none voting no (0) and Representative(s) McKelvey excused (1).
2/15/2022