Hawaii HB234 revises income tax rates and brackets for different income levels and filing statuses.

Hawaii HB234 amends the state's income tax structure by adjusting tax rates and brackets for various income levels and filing statuses. The bill introduces new tax rates for different income ranges, affecting both individual and joint filers. For instance, it sets a 1.40% tax rate for income up to $4,800, with incremental increases for higher income brackets. The changes apply to taxable years beginning after December 31, 2025.

Hawaii HB234 revises income tax rates and brackets for different income levels and filing statuses.

Hawaii HB234 amends the state's income tax structure by adjusting tax rates and brackets for various income levels and filing statuses. The bill introduces new tax rates for different income ranges, affecting both individual and joint filers. For instance, it sets a 1.40% tax rate for income up to $4,800, with incremental increases for higher income brackets. The changes apply to taxable years beginning after December 31, 2025.