HI HB522

Creates a monthly general excise tax (GET) holiday for small businesses on the first Saturday of each month from 12:01 a.m. to 12:00 midnight

Requires all tax savings from the holiday to be passed on from sellers to purchasers

Defines "small business" as a Hawaii-domiciled, independently owned and operated entity with fewer than 50 employees

Excludes from the exemption: rebates, layaway sales, rain checks, exchanges outside the holiday period, and purchases made via internet, telephone, or mail-order

Takes effect for taxable years beginning after December 31, 2025