HRS §237-29.7
Insurance companies and the general excise tax
This section exempts insurance companies from Hawaii's general excise tax, except for rent from real estate investments received after 1991. Rent from written contracts signed before 1992 that don't allow passing on taxes is not taxed until the contract is renegotiated, renewed, or extended.
everyone
The statute, as written — Exemption of insurance companies
This chapter shall not apply to the gross income or gross proceeds of insurance companies authorized to do business under chapter 431; except this exemption shall not apply to any gross income or gross proceeds received after December 31, 1991, as rents from investments in real property in this State; provided that gross income or gross proceeds from investments in real property received by insurance companies after December 31, 1991, under written contracts entered into before January 1, 1992, that do not provide for the passing on of taxes or tax increases shall not be taxed until the contracts are renegotiated, renewed, or extended.
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