Current through November, 2024
(a) The department may charge a fee of $1,000
to any person requesting the issuance of a comfort ruling from the
department.
(b) The department may
charge the following fees to each person requesting a certificate under section
235-110.9,
HRS:
(1) $100 for complete requests received
by the department prior to the third Wednesday in January following the year in
which the investment was made;
(2)
$150 for complete requests received by the department on or after the third
Wednesday in January following the year in which the investment was made;
or
(3) For entities taxable as a
partnership for net income tax purposes, such entities may request a
certificate on behalf of their partners or members, and the following fees
shall apply:
(A) $750 for complete requests
received by the department prior to the third Wednesday in January following
the year in which the investment was made; or
(B) $1,000 for complete requests received by
the department on or after the third Wednesday in January following the year in
which the investment was made.
These fees shall apply provided that the person submits the
application for certification in the manner prescribed by the department
through published guidance.
(c) The department shall charge the following
fees to each person requesting a certificate under section
235-110.91,
HRS:
(1) $400 for complete requests received
by the department prior to the third Wednesday in January following the year in
which the expenses were incurred; or
(2) $750 for complete requests received by
the department on or after the third Wednesday in January following the year in
which the expenses were incurred.
(d) The department shall require payment in
full of any outstanding fees prior to processing a request described in
subsection (a), (b), or (c).
(e) No
fee shall be required from any person requesting a certificate under sections
235-110.9,
HRS, or
235-110.91,
HRS, where the credit sought to be claimed is less than $25,000 for the
qualified high technology business' taxable year.
(f) As used in this section:
"Comfort ruling" means a ruling concerning the application
of the following high technology tax incentives:
(1) The high technology business investment
tax credit under section
235-110.9,
HRS;
(2) The income tax exclusion
for royalties and other income derived from patents and copyrights received by
an individual or a qualified high technology business and developed and arising
out of a qualified high technology business under section
235-7.3,
HRS;
(3) The income tax exclusion
for stock options, dividends from stock, the receipt of the options, the
exercise of the options, and income from the sale of the options under section
235-9.5,
HRS; or
(4) The tax credit for
research activities under section
235-110.91,
HRS. "Complete request" means the taxpayer has:
(1) Answered all of the questions listed on
the application for certification; and
(2) Executed the application for
certification under penalty of perjury.
