§393-46 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. [L 1974, c 210, pt of §1; gen ch 1985]
Hawaii Legal Code