HRS §393-46
Income directly attributable to the business
This section defines what counts as business income for a specific law. It lists allowed deductions and things that cannot be deducted. It also lets the director make rules to clarify the definition.
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The statute, as written — Income directly attributable to the business
(a) "Income directly attributable to the business" means gross profits from the business minus deductions for: (1) Compensation of officers; (2) Salaries and wages, except wages paid by an individual proprietor to oneself; (3) Repairs; (4) Taxes on business and business property; (5) Business advertising; (6) Amounts contributed to employee benefit plans; (7) Interest on business indebtedness; (8) Rent on business property; and (9) Other expenses necessary for the current conduct of business. (b) Deductions shall not include: (1) Bad debts; (2) Contributions or gifts, other than those listed under subsection (a)(6); (3) Amortization and depreciation; or (4) Losses by fire, storm, casualty, or theft. (c) The director may promulgate rules and regulations necessary to define income directly attributable to business for the purpose of section 393-45.
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