HRS 0235-0007 ANNOTATIONS

The 2003 amendment applies to taxable years beginning after December 31, 2002. L 2003, c 172, §6.

Federal home loan banks, not being national banks, dividends received therefrom are taxable. Att. Gen. Op. 65-8.

Depreciation not actually sustained during year, not deductible. 18 H. 15.

No federal or territorial inhibition against imposition of tax upon income accruing prior to enactment. 33 H. 766.

Insurance premiums on life of president not an actual business expense. 36 H. 11.

Cited: 18 H. 530; 18 H. 596; 34 H. 515, 583.