Hawaii Revised Statutes 237-29.7 – Exemption of insurance companies
Current as of: 2024 | Check for updates
|
Other versions
Terms Used In Hawaii Revised Statutes 237-29.7
- Business: includes all activities (personal, professional, or corporate) engaged in or caused to be engaged in with the object of gain or economic benefit either direct or indirect, but does not include casual sales. See Hawaii Revised Statutes 237-2
- Real property: Land, and all immovable fixtures erected on, growing on, or affixed to the land.
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.