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<br /> HB 185 Page 4 of 7 <br /> foregone by the State or relevant county because of <br /> the state enterprise zone tax incentives or local <br /> tax and fee incentives ppovided to the aualified <br /> business. The dollar value of the state enterprise <br /> zone tax incentives shall be determined by the <br /> state director of taxation and shall be conclusive <br /> for the purpose of this section. The dollar value <br /> of the local tax and fee incentives shall be <br /> determined by the relevant county's director of <br /> finance or equivalent officer and shall be <br /> conclusive for the purpose of this section. From <br /> the determinations of the dollar values of the <br /> incentives, the state director of business, <br /> economic development, and tourism shall calculate <br /> the percentage, rounded to the nearest tenth of a <br /> per cent, which is the "county's share." The <br /> director of business, economic development, and <br /> tourism shall make the calculation within thirty <br /> des of the expiration of the incentive period for <br /> the qualified business. The percentage shall be <br /> applicable until the termination or expiration of <br /> the enterprise zone for determining the county's <br /> share of the general excise, use, and income taxes <br /> paid by that particular business on its enterprise <br /> zone activity. <br /> u The "general excise, use, and income taxes paid <br /> by the business on its enterprise zone activity" <br /> means• <br /> The general excise taxes paid b~ the <br /> business upon the gross income or gross <br /> Qroceeds derived from the business's <br /> enterprise zone activity; <br /> The use taxes paid by the business <br /> upon the price or value of property <br /> imported or purchased for use in the <br /> business's enterprise zone activity; and <br /> u The net income taxes paid by the <br /> business upon taxable income earned from <br /> the business's enterprise Zone activity. <br /> "Net income taxes" means income taxes paid <br /> less refunds. <br /> The state director of taxation shall determine the <br /> amount of taxes paid by a particular business upon <br /> its enterprise zone activity. The determination <br /> shall be conclusive for the purpose of this <br /> section. <br /> http:/lwww.capiWl.hawaii.goy/sessioncurrenWills/hb185_.htm 02/02!2001 <br /> <br />