HAR §21-7-6
HAR §21-7-6. Valuation of gifts
Length: 83 wordsOfficial source
Cite as Haw. Code R. § 21-7-6
(a) The value of a gift is its fair market value,
which is the cost that a member of the public would reasonably ex.pect to incur lo
purchase the gift, including any tax-deductible portion.
(b)
If the gift is a seat at a table for an event, the value of the gift is the
cost of the table sponsorship divided by the number ofscats at the table. [Eff
] (Auth: HRS §84-31(a)(5)) (Imp: HRS §§84-11, 84-11 .5)
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