§235-2  Same; "Internal Revenue
Code".  "Internal Revenue Code" means the Internal Revenue
Code of 1954 as it applies to the determination of gross income, adjusted gross
income, and taxable income, except those provisions of the Internal Revenue
Code which pursuant to this chapter do not apply.  For each taxable year
specified in column 1 below the Internal Revenue Code meant is the Internal
Revenue Code of 1954 as amended as of June 7, 1957 and as further amended by
the acts of Congress, or portions thereof, enumerated in column 2 (section
numbers in column 2 are inclusive).  Amendments to the Code not herein
enumerated shall not be operative for the purposes of this chapter unless
specifically adopted.



 






Column 1




Column 2






Taxable year beginning on or after January 1,
1958, or which in whole or in part is governed by this chapter pursuant to
the provisions of Act 1 of the Special Session Laws of 1957, and subsequent
taxable years.




Public Laws 85-165, 85-320, and 85-367; Public Law
85-866, Title I, sections 4-12, 19, 20 (with respect to sales, exchanges, and
distributions made after December 31, 1957), 21, 22, 24, 25, 28, 29 (the
provisions of section 29 being applicable as agreed upon in connection with
the consent of the department of taxation to the change in the method of
accounting, and reading "the first taxable year beginning after December
31, 1953, and ending after August 16, 1954" as "the first taxable
year governed by the Income Tax Law of 1957"), 34, 35, 37(c), 38, 43-48,
52(b), 53, 55, 95, and 97.


 






Taxable year beginning on or after January 1,
1959, beginning in 1958 but ending on or after June 30, 1959, and subsequent
taxable years.


 




Public Law 85-866, Title I, sections 2 (with
respect to obligations acquired after December 31, 1957), 3 (with respect
to amounts received as a statutory subsistence allowance for a period after
September 30, 1958), 13, 15 (with respect to the costs and improvements
there designated), 17, 23, 26, 27, 30 (the provisions of section 30 being
applicable to the extent they relate to deductions for contributions and
gifts), 37(b) and (d), 39, 49, 50, 51, 52(a), 54, 57(a), 58 (with respect to
the amounts there designated), 101 (with respect to taxable years of
regulated investment companies beginning on or after March 1, 1958),
Title II, sections 202, 204 (with respect to property acquired by purchase
after December 31, 1958).


 






Taxable year beginning on or after January 1,
1961, and subsequent taxable years.


 




Public Law 86-564, Title III, section 302.


 






Taxable years beginning on or after January 1,
1962, and subsequent taxable years.


 




Public Law 87-834, sections 22 and 28.


 






Taxable years ending after December 31, 1962, but
only in respect of periods after December 31, 1962.


 




Public Law 87-834, section 4.






Taxable year beginning on or after January 1,
1963, and subsequent taxable years.


 




Public Law 87-834, sections 13 and 21; Public Law
87-863, section 2.


 






Taxable year beginning on or after January 1,
1965.


 




Public Law 86-376, section 1(a); Public Law
86-470, section 3(a); Public Law 86-594, section 1; Public Law 86-779,
sections 6(a), (b), and (c), 7(a) and (b); Public Law 87-256, section 110(a);
Public Law 87-834, section 3(a); Public Law 87-858, section 2(a) and (b);
Public Law 87-863, section 1(a) and (b); Public Law 88-4, section 1; Public
Law 88-272, sections 203(d) (with respect to dispositions of elevators and
escalators made in taxable years beginning on or after January 1, 1965),
204(a) (with respect to group-term life insurance provided in taxable years
beginning on or after January 1, 1965), 205(a) (with respect to amounts
attributable to periods of absence beginning on or after January 1,
1965), 206(a) and (b)(2)(3) and (4) (with respect to sales on or after
January 1, 1965), 207(a), (b)(1)(2)(3), and (c)(2), 208(a) (with respect
to losses sustained in taxable years beginning on or after January 1,
1965), 211(a), 212(a), 213(a) and (b) (with respect to expenses incurred in
taxable years beginning on or after January 1, 1965), 217(a), 224(a),
(b), and (c) (with respect to certain deferred payments on sales or exchanges
of property occurring in taxable years beginning on or after January 1,
1965), 230(a) and (b) (with respect to capital loss carryovers in taxable
years beginning on or after January 1, 1965, and further provided that
in the case of a taxpayer other than a corporation, there shall be treated as
a short-term capital loss in the first taxable year beginning after December
31, 1964, any amount which is treated as a short-term capital loss in such
year as in effect immediately before May 11, 1965), 231(a) and (b) (with
respect to dispositions of certain depreciable realty in taxable years
beginning on or after January 1, 1965).


 






Taxable years ending after December 31, 1965, but
only with respect to compensation for periods of active service after such
date.


 




Public Law 88-554, section 1; Internal Revenue
Code of 1954, section 112, as amended by Public Law 89-739.


 






Taxable years ending after December 31, 1966, but
only with respect to contributions made after such date.


 




Public Law 88-272, section 209, with the
exceptions of section 209(c)(2) and section 209(f).


 






Taxable years beginning January 1, 1967.


 




Public Law 90-78, section 1.


 








Taxable year beginning on or after January 1,
1968.


 




Public Law 87-792, sections 2, 3, 4, 6, 7(b),
7(c), 7(d), 7(e) and 7(f); Public Law 87-863, subsections 2(a) and (b);
Public Law 89-809, sections 204 and 205; Public Law 87-792, section 5.


 






Taxable years beginning on or after January 1,
1966.


 




Internal Revenue Code, section 112(d), as added by
Public Law 92-279.


 






Taxable years beginning on or after January 1,
1975.


 




Public Law 91-172, sections 201(a)(1), (a)(2)(A),
(b), (c), (e) and (f) (with respect to charitable contributions made on or
after January 1, 1975), 212(a)(1), (a)(2), (b)(1), and (c)(1) (with
respect to recapture of depreciation upon the sale of livestock made on or
after January 1, 1975), 213(a), (b), and (c) (with respect to deductions
attributable to activities not engaged in for profit made on or after January 1,
1975), 231(a), (b), and (c) (with respect to moving expenses made on or after
January 1, 1975), 321(a), (b), and (c) (with respect to restricted
property made on or after January 1, 1975), 331(a), (b), and (c) (with
respect to treatment of excess distributions by trusts made on or after
January 1, 1975), 411(a) and (b) (with respect to interest on
indebtedness incurred by corporation to acquire stock or assets of another
corporation made on or after January 1, 1975), 412(a) (with respect to installment
sale made on or after January 1, 1975), 421(a) (with respect to stock
dividends made on or after January 1, 1975), 433(b) (with respect to
loss of a small business investment company made on or after January 1,
1975), 441(a) (with respect to public utility property made on or after
January 1, 1975), 442(a) (with respect to earnings and profits made on
or after January 1, 1975), 513(a), (b),

and (c) (with respect to capital loss limitations for individuals), 514(a)
and (b) (with respect to income on sales of literary property), 515(a), (b)
and (c)(1), (c)(2) and (c)(3) (with respect to lump-sum distribution from
employees' plans), 516(a) (with respect to sales or other disposition of a
term interest in property), 516(b) (with respect to treatment of certain casualty
losses), 516(c) (with respect to treatment of franchises, trademarks and
trade names), 521(a) through (f) (with respect to real estate depreciation
and recapture effective on or after January 1, 1975), 531(a), (b) and
(c) (with respect to qualified pension, etc., plans of small business
corporation effective on or after January 1, 1975), 901(a) and (b) (with
respect to casualty losses--reimbursement for increased living expenses),
902(a) and (b) (with respect to fines and penalties, and bribes and illegal
kickbacks), 905(a) and (b) (with respect to corporations using appreciated
property to redeem their own stock), 910(a), (b) and (c) (with respect to
sales of certain low-income housing projects in Hawaii), 912(a) (with respect
to foster child as dependent), 915(a) (with respect to replacement of
property involuntarily converted within a 2-year period.)  Public Law 92-178,
sections 109(a), (b), (d)(1)(2), and (e) (with respect to class life system
of depreciation effective on or after January 1, 1975), 302(a) and (b)
with the exceptions of unused credits (with respect to limitations on
carryovers of unused capital losses), 303(a) and (c) (with respect to
amortization of certain expenditures for on-the-job training and for child
care centers), 306(a) and (b) (with respect to capital gain distributions of
certain trusts), 310(a) (with respect to bribes, kickbacks, medical referral
payments), and 311(a) (with respect to activities not engaged in for profit).


 






 



[L 1959, c 277, pt of §6; am L Sp 1959 2d, c 1, §16;
am L 1963, c 146, §1; am L 1965, c 57, §1; Supp, §121-1.01; am L 1967, c 25,
§2, c 117, §1, and c 182, §2; HRS §235-2; am L 1968, c 47, §2; am L 1969, c 66,
§2; am L 1973, c 21, §1; am L 1975, c 86, §1]



 



Case Notes



 



  Cited re depreciation
deductions.  56 H. 644, 547 P.2d 1343.