Hawaii HB577 introduces a tax credit for employers who subsidize public transportation for their employees.

Hawaii HB577 amends Chapter 235 of the Hawaii Revised Statutes to introduce a public transportation subsidization tax credit. This credit is available to employers in counties with a population of 700,000 or more. The credit amount equals the employer's expenditure on public transportation fares or passes for employees. The tax credit can be deducted from the employer's income tax liability and any excess can be carried over to subsequent years. The director of taxation is tasked with preparing necessary forms, verifying claims, and submitting reports to the legislature.

Hawaii HB577 introduces a tax credit for employers who subsidize public transportation for their employees.

Hawaii HB577 amends Chapter 235 of the Hawaii Revised Statutes to introduce a public transportation subsidization tax credit. This credit is available to employers in counties with a population of 700,000 or more. The credit amount equals the employer's expenditure on public transportation fares or passes for employees. The tax credit can be deducted from the employer's income tax liability and any excess can be carried over to subsequent years. The director of taxation is tasked with preparing necessary forms, verifying claims, and submitting reports to the legislature.