HRS §237-9.5
No separate license or tax filing for certain revocable trusts
This section says that if a trust is revocable and, for tax purposes, is reported on the grantor's own tax return, the trust itself does not need a separate license or filing under this tax law. But the grantor must still be licensed and pay general excise tax on trust business income.
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The statute, as written — No separate licensing, filing, or liability for certain revocable trusts
In the case of any trust that, for state and federal income tax reporting purposes: (1) Has no registration or filing requirements separate and apart from its grantor or grantors; (2) Is subject to the requirement that all items of income, deduction, and credit are to be reported by the individual grantor or grantors; and (3) Is revocable by the grantor or grantors; no licensing, registration, or filing requirements under this chapter shall apply; provided that the individual grantor or grantors must be licensed under this chapter and pay the appropriate general excise tax on trust income, if the trust income is from engaging in business.
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