Hawaii 2024 Regular Session

Hawaii House Bill HB2733 Compare Versions

Only one version of the bill is available at this time.

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1	1	HOUSE OF REPRESENTATIVES H.B. NO. 2733 THIRTY-SECOND LEGISLATURE, 2024 STATE OF HAWAII A BILL FOR AN ACT relating to income tax. BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF HAWAII:
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3	3	HOUSE OF REPRESENTATIVES H.B. NO. 2733
4	4	THIRTY-SECOND LEGISLATURE, 2024
5	5	STATE OF HAWAII
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7	7	HOUSE OF REPRESENTATIVES
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9	9	H.B. NO.
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11	11	2733
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13	13	THIRTY-SECOND LEGISLATURE, 2024
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17	17	STATE OF HAWAII
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31	31	A BILL FOR AN ACT
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37	37	relating to income tax.
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43	43	BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF HAWAII:
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47	47	SECTION 1. Section 235-51, Hawaii Revised Statutes, is amended by amending subsections (a), (b), and (c) to read as follows: "PART III. INDIVIDUAL INCOME TAX §235-51 Tax imposed on individuals; rates. (a) There is hereby imposed on the taxable income of every: (1) Taxpayer who files a joint return under section 235-93; and (2) Surviving spouse, a tax determined in accordance with the following table: In the case of any taxable year beginning after December 31, 2017: If the taxable income is: The tax shall be: Not over $4,800 [1.40%] 0.70% of taxable income Over $4,800 but $67.00 plus [3.20%] 1.60% of not over $9,600 excess over $4,800 Over $9,600 but $221.00 plus [5.50%] 2.75% of not over $19,200 excess over $9,600 Over $19,200 but $749.00 plus [6.40%] 3.20% of not over $28,800 excess over $19,200 Over $28,800 but $1,363.00 plus [6.80%] 3.40% of not over $38,400 excess over $28,800 Over $38,400 but $2,016.00 plus [7.20%] 3.60% of not over $48,000 excess over $38,400 Over $48,000 but $2,707.00 plus [7.60%] 3.80% of not over $72,000 excess over $48,000 Over $72,000 but $4,531.00 plus [7.90%] 3.95% of not over $96,000 excess over $72,000 Over $96,000 but $6,427.00 plus 8.25% of not over $300,000 excess over $96,000 Over $300,000 but $23,257.00 plus 9.00% of not over $350,000 excess over $300,000 Over $350,000 but $27,757.00 plus 10.00% of not over $400,000 excess over $350,000 Over $400,000 $32,757.00 plus 11.00% of excess over $400,000. (b) There is hereby imposed on the taxable income of every head of a household a tax determined in accordance with the following table: In the case of any taxable year beginning after December 31, 2017: If the taxable income is: The tax shall be: Not over $3,600 [1.40%] 0.70% of taxable income Over $3,600 but $50.00 plus [3.20%] 1.60% of not over $7,200 excess over $3,600 Over $7,200 but $166.00 plus [5.50%] 2.75% of not over $14,400 excess over $7,200 Over $14,400 but $562.00 plus [6.40%] 3.20% of not over $21,600 excess over $14,400 Over $21,600 but $1,022.00 plus [6.80%] 3.40% of not over $28,800 excess over $21,600 Over $28,800 but $1,512.00 plus [7.20%] 3.60% of not over $36,000 excess over $28,800 Over $36,000 but $2,030.00 plus [7.60%] 3.80% of not over $54,000 excess over $36,000 Over $54,000 but $3,398.00 plus [7.90%] 3.95% of not over $72,000 excess over $54,000 Over $72,000 but $4,820.00 plus 8.25% of not over $225,000 excess over $72,000 Over $225,000 but $17,443.00 plus 9.00% of not over $262,500 excess over $225,000 Over $262,500 but $20,818.00 plus 10.00% of not over $300,000 excess over $262,500 Over $300,000 $24,568.00 plus 11.00% of excess over $300,000. (c) There is hereby imposed on the taxable income of (1) every unmarried individual (other than a surviving spouse, or the head of a household) and (2) on the taxable income of every married individual who does not make a single return jointly with the individual's spouse under section 235-93 a tax determined in accordance with the following table: In the case of any taxable year beginning after December 31, 2017: If the taxable income is: The tax shall be: Not over $2,400 [1.40%] 0.70% of taxable income Over $2,400 but $34.00 plus [3.20%] 1.60% of not over $4,800 excess over $2,400 Over $4,800 but $110.00 plus [5.50%] 2.75% of not over $9,600 excess over $4,800 Over $9,600 but $374.00 plus [6.40%] 3.20% of not over $14,400 excess over $9,600 Over $14,400 but $682.00 plus [6.80%] 3.40% of not over $19,200 excess over $14,400 Over $19,200 but $1,008.00 plus [7.20%] 3.60% of not over $24,000 excess over $19,200 Over $24,000 but $1,354.00 plus [7.60%] 3.80% of not over $36,000 excess over $24,000 Over $36,000 but $2,266.00 plus [7.90%] 3.95% of not over $48,000 excess over $36,000 Over $48,000 but $3,214.00 plus 8.25% of not over $150,000 excess over $48,000 Over $150,000 but $11,629.00 plus 9.00% of not over $175,000 excess over $150,000 Over $175,000 but $13,879.00 plus 10.00% of not over $200,000 excess over $175,000 Over $200,000 $16,379.00 plus 11.00% of excess over $200,000." SECTION 2. Statutory material to be repealed is bracketed and stricken. New statutory material is underscored. SECTION 3. This Act, upon its approval, shall apply to taxable years beginning after December 31, 2024. INTRODUCED BY: _____________________________
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49	49	SECTION 1. Section 235-51, Hawaii Revised Statutes, is amended by amending subsections (a), (b), and (c) to read as follows:
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51	51	"PART III. INDIVIDUAL INCOME TAX
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53	53	§235-51 Tax imposed on individuals; rates. (a) There is hereby imposed on the taxable income of every:
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55	55	(1) Taxpayer who files a joint return under section 235-93; and
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57	57	(2) Surviving spouse,
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59	59	a tax determined in accordance with the following table:
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63	63	In the case of any taxable year beginning after December 31, 2017:
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65	65	If the taxable income is: The tax shall be:
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67	67	Not over $4,800 [1.40%] 0.70% of taxable income
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69	69	Over $4,800 but $67.00 plus [3.20%] 1.60% of
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71	71	not over $9,600 excess over $4,800
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73	73	Over $9,600 but $221.00 plus [5.50%] 2.75% of
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75	75	not over $19,200 excess over $9,600
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77	77	Over $19,200 but $749.00 plus [6.40%] 3.20% of
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79	79	not over $28,800 excess over $19,200
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81	81	Over $28,800 but $1,363.00 plus [6.80%] 3.40% of
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83	83	not over $38,400 excess over $28,800
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85	85	Over $38,400 but $2,016.00 plus [7.20%] 3.60% of
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87	87	not over $48,000 excess over $38,400
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89	89	Over $48,000 but $2,707.00 plus [7.60%] 3.80% of
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91	91	not over $72,000 excess over $48,000
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93	93	Over $72,000 but $4,531.00 plus [7.90%] 3.95% of
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95	95	not over $96,000 excess over $72,000
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97	97	Over $96,000 but $6,427.00 plus 8.25% of
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99	99	not over $300,000 excess over $96,000
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101	101	Over $300,000 but $23,257.00 plus 9.00% of
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103	103	not over $350,000 excess over $300,000
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105	105	Over $350,000 but $27,757.00 plus 10.00% of
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107	107	not over $400,000 excess over $350,000
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109	109	Over $400,000 $32,757.00 plus 11.00% of
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111	111	excess over $400,000.
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115	115	(b) There is hereby imposed on the taxable income of every head of a household a tax determined in accordance with the following table:
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119	119	In the case of any taxable year beginning after December 31, 2017:
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121	121	If the taxable income is: The tax shall be:
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123	123	Not over $3,600 [1.40%] 0.70% of taxable income
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125	125	Over $3,600 but $50.00 plus [3.20%] 1.60% of
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127	127	not over $7,200 excess over $3,600
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129	129	Over $7,200 but $166.00 plus [5.50%] 2.75% of
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131	131	not over $14,400 excess over $7,200
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133	133	Over $14,400 but $562.00 plus [6.40%] 3.20% of
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135	135	not over $21,600 excess over $14,400
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137	137	Over $21,600 but $1,022.00 plus [6.80%] 3.40% of
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139	139	not over $28,800 excess over $21,600
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141	141	Over $28,800 but $1,512.00 plus [7.20%] 3.60% of
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143	143	not over $36,000 excess over $28,800
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145	145	Over $36,000 but $2,030.00 plus [7.60%] 3.80% of
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147	147	not over $54,000 excess over $36,000
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149	149	Over $54,000 but $3,398.00 plus [7.90%] 3.95% of
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151	151	not over $72,000 excess over $54,000
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153	153	Over $72,000 but $4,820.00 plus 8.25% of
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155	155	not over $225,000 excess over $72,000
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157	157	Over $225,000 but $17,443.00 plus 9.00% of
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159	159	not over $262,500 excess over $225,000
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161	161	Over $262,500 but $20,818.00 plus 10.00% of
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163	163	not over $300,000 excess over $262,500
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165	165	Over $300,000 $24,568.00 plus 11.00% of
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167	167	excess over $300,000.
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171	171	(c) There is hereby imposed on the taxable income of (1) every unmarried individual (other than a surviving spouse, or the head of a household) and (2) on the taxable income of every married individual who does not make a single return jointly with the individual's spouse under section 235-93 a tax determined in accordance with the following table:
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175	175	In the case of any taxable year beginning after December 31, 2017:
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177	177	If the taxable income is: The tax shall be:
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179	179	Not over $2,400 [1.40%] 0.70% of taxable income
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181	181	Over $2,400 but $34.00 plus [3.20%] 1.60% of
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183	183	not over $4,800 excess over $2,400
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185	185	Over $4,800 but $110.00 plus [5.50%] 2.75% of
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187	187	not over $9,600 excess over $4,800
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189	189	Over $9,600 but $374.00 plus [6.40%] 3.20% of
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191	191	not over $14,400 excess over $9,600
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193	193	Over $14,400 but $682.00 plus [6.80%] 3.40% of
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195	195	not over $19,200 excess over $14,400
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197	197	Over $19,200 but $1,008.00 plus [7.20%] 3.60% of
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199	199	not over $24,000 excess over $19,200
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201	201	Over $24,000 but $1,354.00 plus [7.60%] 3.80% of
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203	203	not over $36,000 excess over $24,000
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205	205	Over $36,000 but $2,266.00 plus [7.90%] 3.95% of
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207	207	not over $48,000 excess over $36,000
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209	209	Over $48,000 but $3,214.00 plus 8.25% of
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211	211	not over $150,000 excess over $48,000
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213	213	Over $150,000 but $11,629.00 plus 9.00% of
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215	215	not over $175,000 excess over $150,000
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217	217	Over $175,000 but $13,879.00 plus 10.00% of
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219	219	not over $200,000 excess over $175,000
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221	221	Over $200,000 $16,379.00 plus 11.00% of
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223	223	excess over $200,000."
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225	225	SECTION 2. Statutory material to be repealed is bracketed and stricken. New statutory material is underscored.
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227	227	SECTION 3. This Act, upon its approval, shall apply to taxable years beginning after December 31, 2024.
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231	231	INTRODUCED BY: _____________________________
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233	233	INTRODUCED BY:
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241	241	Report Title: Income Tax Rate; Cost of Living; Affordability Description: Reduces the tax rate by fifty per cent for all tax brackets except the highest four. The summary description of legislation appearing on this page is for informational purposes only and is not legislation or evidence of legislative intent.
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247	247	Report Title:
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249	249	Income Tax Rate; Cost of Living; Affordability
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253	253	Description:
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255	255	Reduces the tax rate by fifty per cent for all tax brackets except the highest four.
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263	263	The summary description of legislation appearing on this page is for informational purposes only and is not legislation or evidence of legislative intent.