HI HB1100

Conforms Hawaii income tax laws to the federal Internal Revenue Code as amended through December 31, 2022, for taxable years beginning after December 31, 2022.

Makes specific federal tax provisions operative for Hawaii, including targeted EIDL advances, restaurant revitalization grants, and recovery rebates under federal relief laws (Public Laws 117-2, 116-260, and 116-136).

Exempts certain federal tax provisions from Hawaii application, including section 199A (qualified business income deduction), section 250 (foreign-derived intangible income), and various corporate and entity-specific provisions.

Conforms Hawaii estate and generation-skipping transfer tax laws to federal subtitle B provisions as amended through December 31, 2022, for decedents dying or transfers occurring after December 31, 2022.

Makes section 1341 (computation of tax where taxpayer restores substantial amounts held under claim of right) operative for Hawaii, effective for taxable years beginning after December 31, 2021.