Section 21-7-6 - Valuation of gifts(a) The value of a gift is its fair market value, which is the cost that a member of the public would reasonably expect to incur to purchase the gift, including any tax-deductible portion.(b) If the gift is a seal at a table for an event, the value of the gift is the cost of the table sponsorship divided by the number of seats at the table.[Eff 11/28/2020] (Auth: HRS § 84-31(a)(5)) (Imp: HRS §§ 84-11, 84-11.5)