The property factor is a fraction, the numerator of which is the average value of the taxpayer's real and tangible personal property owned or rented and used in this State during the tax period and the denominator of which is the average value of all the taxpayer's real and tangible personal property owned or rented and used during the tax period.
Haw. Rev. Stat. § 235-30
Apportionment; property factor
Applied in 1 court decision — leading case Brunswick Corp. v. Director, Div. of Taxation (1994)
Most recently applied in Brunswick Corp. v. Director, Div. of Taxation (March 1994)
L 1967, c 33, pt of §1; HRS §235-30
Official source: Hawaii State Legislature. Reproduced from public-domain Hawaii statutes; confirm against the official source for the current text. Not legal advice.