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	Did You Know?
	There are tax rules if change in accounting method is made Generally, the partnership must get IRS consent to change its method of accounting used to report income (for income as a whole or for any material item). To do so, it must file Form 3115, Application for Change in Accounting Method. See Form 3115 and Pub. 538, Accounting Periods and Methods.

Tax Law is divided into both Federal Tax and State Tax, and involves the taxation of income and property acquired through personal and professional efforts. In addition to income tax, there is sales tax, gift tax, inheritance tax, capital gains tax, property tax, and a myriad of other areas of tax.

	Tax collections shown for various States
	Amounts include adjustments to prior years made in Fiscal Year 2004. This could produce negative amounts of collections shown in the table.However, in a given fiscal year, refunds relating to prior fiscal years may be issued and subsequently recorded, and, therefore, the total refund amount may exceed the collection amount [Money amounts are in thousands of dollars.] in Hawaii Total Internal Revenue collections [2] 8,394,777 Corporation income tax [3] 460,777 Total [4,5] 7,746,147 Income tax not withheld and SECA tax [4,5] 1,227,918 Income tax withheld and FICA tax [4] 6,497,866 Railroad retirement tax DataNotAvailable Unemployment insurance tax 20,363 Estate Tax 77,875 Gift Tax 2,853 Excise Taxes[2] 107,125 Source: Data 2004, Chief Financial Officer, Revenue Financial Management

Federal Income tax became law in 1913 when the Sixteenth Amendment to the U.S. Constitution was ratified. While some states do not have an income tax, all residents and citizens of the United States are subject to federal income tax. The more assets an individual owns, unfortunately, the more complicated the tax law becomes.

Congress writes the tax laws, which become part of the tax code. The Internal Revenue Service (IRS) is charged with interpreting the tax code. The IRS is a branch of the U.S. Treasury Department, with headquarters in Washington, D.C., and is ruled by a commissioner appointed by the President. Regional commissioners and district directors, also political appointees, oversee IRS operations.

Our Hawaii Taxation Lawyers are willing to work for you. They can explain in detail the complex state and federal tax laws that affect you and your case. If you expect a high standard of quality from your legal representatives, then our Hawaii Taxation Lawyers are the lawyers for you.

Taxation and Tax Law related topics:

• Income Tax Cases
• Recent Estate & Gift Tax Cases
• Recent Income Tax Cases
• State Statutes Dealing with Taxation
• Corporate Taxation
• International Taxation

Contact our Hawaii Taxation Lawyer Now!

Hawaii Audio & Video         Senate Republicans Seek End to Estate Tax AUDIO, RM, 44Kbps, 7:08, 7/28/2005 The Senate is expected to vote this week on a proposal to repeal the estate tax. The tax has been in place for nearly a century. But times have changed and estate tax opponents are predicting victory Source: NPR

Hawaii External Sites         State of Hawaii - Department of Taxation Hawaii Tax News, Vol 9, No. 2 - Summer 2005. Download .... ... mailto:TAX.WebMaster@hawaii.gov?subject=Assistance?page=forms.htm | ... Electronic Business Information (E-filing for Individua There are two ways you can electronically file your income tax return. ... verify that they file Hawaii returns electronically. Are you a tax profess