Hawaii HB889 establishes a refundable tax credit for residents who pay transient accommodations tax for in-state lodging.
Hawaii HB889 amends the transient accommodations tax to allow residents to claim a refundable tax credit for the tax they pay on accommodations within the state. The credit can be applied against the resident's income tax liability, with any excess refunded. The tax credit is intended to offset the double taxation burden on residents who already support state and county infrastructure through other taxes. The director of taxation will prepare necessary forms and may require proof of the tax credit claim.
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