HB326

Increases the percentage of employment-related expenses that may be claimed for the household and dependent care services tax credit in Hawaii.

This bill amends the household and dependent care services tax credit in Hawaii by increasing the percentage of employment-related expenses that may be claimed. The bill specifies that the applicable percentage for the credit is determined based on the taxpayer's adjusted gross income, with a threshold amount of $150,000 for taxable years beginning after December 31, 2024. The bill also sets a dollar limit on the amount of creditable employment-related expenses, with a maximum of $10,000 for one qualifying individual and $20,000 for two or more qualifying individuals.