Tax Status

The State of Hawaii Department of Taxation (HIDOT) has confirmed that Biosensor is a Qualified High Technology Business (QHTB) and as such is eligible for certain tax benefits both from the state and the federal government. Under IRC 41, Biosensor will be due a non-refundable tax credit of 20% of any increased research spending on an annualized basis.

Act 221

Under Act 221, the Hawaii State high technology sector tax incentive, investors in a QHTB are entitled to a 100% State of Hawaii Tax credit over a period of 5 years. 100% of research and development expenditures are eligible for a refundable state tax credit. And while the federal reseadh tax credit can only be applied to taxes owed, a refundable credit is available as cash back even without state tax liability. In addition, all revenues from royalties are exempt from state tax.

Hawaii Investment Return