HAR § 18-235-7-01 — Exclusion of income nontaxable under the Constitution or laws of the United States

(a) Section 235-7(a)(1), HRS, excludes income that is not subject to taxation by the State under the Constitution and laws of the United States, if and to the extent that federal law so requires. (b) Public Law No. 86-272, codified at 15 U.S.C. §§381-384, causes the exclusion under section 235- 7(a)(1), HRS, to apply. Section 235-6, HRS, is a separate provision and shall not be construed to expand in any way the exclusion provided by Public Law No. 86-272 and section 235-7(a)(1), HRS.