QHTBQualified High Technology Business
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Under QHTB guidelines, TalkStory is required to spend a minimum of 75 percent of its budget locally, which will result in a largely local pool of both actors and behind-the-scenes workers.
Ever since Act 221 was first introduced, practically anyone involved with the tax incentive program, including investors and the QHTBs themselves, has garnered unwanted criticism.
Island Holdings has also invested about $400,000 in creating its own QHTB subsidiary.
Another large local institution, AIG Hawaii, has begun forming its own QHTB subsidiary to develop software for the insurance industry.
I would argue the latter." High multiples of Good/Encourages out-of-state tax credits for investment: "If you can adjust for investment the risk tolerances, you can bring the cash together and get more money for the company, so that's a good thing." Investor-controlled Yes: Has created them for two QHTB reserve accounts companies to slow burn rate with two conditions: 1) solvency and 2) QHTB compliance.
Some firms could have received QHTB status through private rulings by certified public accountants or attorneys.
But they can transfer their credits to Hawaii investors, usually in return for a larger stake in the QHTB.
Say, for instance, a Mainland investor provides a QHTB with $2 million.
Cayetano also pushed to beef up the law's recapture clause, which allows the state to penalize an investor if he sells his interest in the company or the firm no longer qualifies as a QHTB. Currently, the state can recapture 10 percent of the amount of the total tax credit claimed in the preceding two taxable years.