Haw. Code R. § 18-235-30-04 - Property factor; numerator
(a) The numerator
of the property factor shall include the average value of the real and tangible
personal property owned, rented, or leased by the taxpayer and used in this
State during the tax period in the regular course of the trade or business of
the taxpayer.
(b) Property in
transit between locations of the taxpayer to which it belongs shall be
considered to be at the destination for purposes of the property factor.
Property in transit between a buyer and seller which is included by a taxpayer
in the denominator of its property factor in accordance with its regular
accounting practices shall be included in the numerator according to the state
of destination.
(c) The value of
mobile or movable property such as construction equipment, trucks, or leased
electronic equipment which are located within and without this State during the
tax period shall be determined for purposes of the numerator of the factor on
the basis of total time within the State during the tax period.
(d) A motor vehicle assigned to a traveling
employee shall be included in the numerator of the factor of the state to which
the employee's compensation is assigned under the payroll factor or in the
numerator of the state in which the motor vehicle is licensed.
Notes
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