HAR § 18-231-3-14.22 — General recordkeeping requirements

(a) Every person who: (1) Does business (within the meaning of section 237-2, HRS) in this State; (2) Imports tangible personal property for use, sale, or consumption in this State; or (3) Purchases tangible personal property for use, sale, or consumption in this State from a seller that is not licensed under chapter 237, HRS, shall keep complete and adequate records from which the department may determine any tax for which that person may be liable. (b) Unless the department authorizes an alternative method of recordkeeping in writing, these records shall show: (1) Gross receipts from all activities engaged in or caused to be engaged in with the object of gain or economic benefit either direct or indirect, including the fair market value of property or services received in barter or exchange transactions, whether the receipts are claimed to be taxable or nontaxable. (2) The amounts of all deductions, exemptions, or credits claimed in filing any tax return. HRS §231-3(14) HRS §231-3(14) HRS §231-3(14) ADMINISTRATION OF TAXES