HRS §237-28.1
Tax break for building or repairing certain ships
This section says that money earned from building or repairing ships is not taxed if the ships are owned by the federal government or used in trade between states or countries. This means those businesses pay less tax on that income.
businesses
The statute, as written — Exemption of certain shipbuilding and ship repair business
There shall be exempted from, and excluded from the measure of, the taxes imposed by this chapter all of the gross proceeds arising from shipbuilding and ship repairs rendered to surface vessels federally owned or engaged in interstate or international trade.
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