Hawaii HB2522 eliminates state income taxes and mandates a report on revenue shortfalls and recommendations.

Hawaii HB2522 repeals state income taxes by eliminating Chapter 235 of the Hawaii Revised Statutes. The bill requires the Department of Taxation to submit a report to the legislature by 2027 detailing the estimated annual tax revenue shortfall, recommendations to address it, and proposed legislation for necessary statutory changes. The repeal of Chapter 235 will apply to taxable years beginning after December 31, 2027.

Hawaii HB2522 eliminates state income taxes and mandates a report on revenue shortfalls and recommendations.

Hawaii HB2522 repeals state income taxes by eliminating Chapter 235 of the Hawaii Revised Statutes. The bill requires the Department of Taxation to submit a report to the legislature by 2027 detailing the estimated annual tax revenue shortfall, recommendations to address it, and proposed legislation for necessary statutory changes. The repeal of Chapter 235 will apply to taxable years beginning after December 31, 2027.