Haw. Code R. § 18-235-20.5-01 - Fees for issuing comfort letters, certificates under section 235-110.9, HRS, and certificates under section 235-110.91, HRS

(a) The department may charge a fee of $1,000 to any person requesting the issuance of a comfort ruling from the department.

(b) The department may charge the following fees to each person requesting a certificate under section 235-110.9, HRS:

(1) $100 for complete requests received by the department prior to the third Wednesday in January following the year in which the investment was made;

(2) $150 for complete requests received by the department on or after the third Wednesday in January following the year in which the investment was made; or

(3) For entities taxable as a partnership for net income tax purposes, such entities may request a certificate on behalf of their partners or members, and the following fees shall apply:

(A) $750 for complete requests received by the department prior to the third Wednesday in January following the year in which the investment was made; or

(B) $1,000 for complete requests received by the department on or after the third Wednesday in January following the year in which the investment was made.

These fees shall apply provided that the person submits the application for certification in the manner prescribed by the department through published guidance.

(c) The department shall charge the following fees to each person requesting a certificate under section 235-110.91, HRS:

(1) $400 for complete requests received by the department prior to the third Wednesday in January following the year in which the expenses were incurred; or

(2) $750 for complete requests received by the department on or after the third Wednesday in January following the year in which the expenses were incurred.

(d) The department shall require payment in full of any outstanding fees prior to processing a request described in subsection (a), (b), or (c).

(e) No fee shall be required from any person requesting a certificate under sections 235-110.9, HRS, or 235-110.91, HRS, where the credit sought to be claimed is less than $25,000 for the qualified high technology business' taxable year.

(f) As used in this section:

"Comfort ruling" means a ruling concerning the application of the following high technology tax incentives:

(1) The high technology business investment tax credit under section 235-110.9, HRS;

(2) The income tax exclusion for royalties and other income derived from patents and copyrights received by an individual or a qualified high technology business and developed and arising out of a qualified high technology business under section 235-7.3, HRS;

(3) The income tax exclusion for stock options, dividends from stock, the receipt of the options, the exercise of the options, and income from the sale of the options under section 235-9.5, HRS; or

(4) The tax credit for research activities under section 235-110.91, HRS. "Complete request" means the taxpayer has:

(1) Answered all of the questions listed on the application for certification; and

(2) Executed the application for certification under penalty of perjury.

Notes

Haw. Code R. § 18-235-20.5-01

[Eff 11/03/2005] (Auth: HRS §§ 231-3(9), 235-10, 235-20.5) (Imp: HRS § 235-20.5)