HI HB1458

Applies Hawaii's state corporate income tax to advertising revenue earned by major social media platforms when the revenue derives from content created within Hawaii or from Hawaii-based audiences.

Defines "major social media platform" as an online platform with over one million active U.S. users that earns revenue primarily from advertising and collects data from Hawaii users.

Establishes the Broadband and Digital Equity Special Fund within the state treasury to receive all revenues collected from this social media advertising tax.

Directs fund expenditures toward expanding broadband access initiatives and supporting local journalism programs, administered by the Department of Business, Economic Development, and Tourism.

Requires the Department of Taxation to adopt rules for determining the proportion of advertising revenue subject to the tax, with an effective date of July 1, 3000.