TechHui

Hawaiʻi's Technology Community

Some folks are concerned that the Leg will let 221/215 expire in 2010 and either not renew it, or renew some Frankenstein that will render the benefit ineffective.

I'd like to know how the Entreprenuers here feel about Act 221/215.

1) Do you make use of it?

2) Would you be willing to fight for it?

Views: 134

Replies to This Discussion

Hi Peter,

Can you briefly explain the economic benefits for the state? As in, the state has spent X in time period Y and this has returned A, B and C.

I know there is a 2007 Taxation study but I cannot find it online yet. Also, a brief description would improve the discussion.

Peter Kay said:
IMO 221/215 tax refunds are probably the best, most efficient money the state has ever spent. I'd love to see the numbers behind ANY state-driven economic diversity program that has done more or cost less.
That's a fantastic question John and while I don't have the info onhand, I know that this research has been done and the numbers are clearly positive. There are a group of folks are working hard to produce/publish these reports and I will definitely do so here when I get a hold of those numbers.
Being bootstrapped, the refundable investment credits don't provide a benefit to my company. However, I do take advantage of the state income tax exemption for all income derived from intellectual property created by the company, which in my case is all income generated by the company. This benefit is provided for under Section 235-7.3, HRS:

http://www.capitol.hawaii.gov/hrscurrent/Vol04_Ch0201-0257/HRS0235/...

Will this expire in 2010?
Good question. Dunno.
One important change that needs to happen is a redefinition of "software company" to include SaaS providers. The fact I have to ship a box to be considered a software company is absolutely idiotic, not to mention environmentally unsound. Doesn't our state want tax revenue from the next Google?
Dan, so how is ooi going to deal with this limitation? Will you send commemorative thumb drives to each user who signs up? :)
We have been advised that we can either apply under entertainment or ship some aspect of the software to customers.

John said:
Dan, so how is ooi going to deal with this limitation? Will you send commemorative thumb drives to each user who signs up? :)

RSS

Sponsors

web design, web development, localization

© 2024   Created by Daniel Leuck.   Powered by

Badges  |  Report an Issue  |  Terms of Service