HRS §235-129
Tax credits for S corporation shareholders
Read the official text at capitol.hawaii.gov ↗This section explains how S corporation shareholders get tax credits in Hawaii. It treats certain taxes paid by the S corporation to other states as if the shareholder paid them. It also gives shareholders a credit for their share of the S corporation's Hawaii tax credit.
borrowers
The statute, as written — Tax credits
A copy, taken August 20, 2026. The version published by the Legislature is the one that governs, and it may have changed since. Check it before relying on anything here.
(a) For purposes of section 235‑55, each resident shareholder shall be considered to have paid a tax imposed on the shareholder in an amount equal to the shareholder's pro rata share of any net income tax paid by the S corporation to a state that does not measure the income of S corporation shareholders by the income of the S corporation. For purposes of the preceding sentence, the term "net income tax" means any tax imposed on or measured by a corporation's net income. (b) Each shareholder of an S corporation shall be allowed a credit against the tax imposed by section 235-51 in an amount equal to the shareholder's pro rata share of the tax credit earned by the S corporation in this State.
Sections this one refers to
§235-51 Hawaii income tax rates for individuals
LawTrove is not legal advice. The summary above is a computer-generated restatement — the authoritative text is the official version linked above.