Bill Text: HI HB2256 | 2010 | Regular Session | Introduced
Bill Title: Income Tax; Surcharge; Federal Insurance Compensation Act
Spectrum: Partisan Bill (Democrat 1-0)
Status: (Introduced - Dead) 2010-01-22 - (H) Referred to FIN, referral sheet 4 [HB2256 Detail]
Download: Hawaii-2010-HB2256-Introduced.html
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HOUSE OF REPRESENTATIVES |
H.B. NO. |
2256 |
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TWENTY-FIFTH LEGISLATURE, 2010 |
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STATE OF HAWAII |
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A BILL FOR AN ACT
RELATING TO TAXATION.
BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF HAWAII:
SECTION 1. Chapter 235, Hawaii Revised Statutes, is amended by adding a new section to be appropriately designated and to read as follows:
"§235- Income tax surcharge; Federal Insurance Compensation Act. (a) Notwithstanding any other law to the contrary, an income tax surcharge of 6.2 per cent is imposed on that portion of the gross income of every individual taxpayer, as reported under the Federal Insurance Compensation Act, that is in excess of the Federal Insurance Compensation Act's maximum withholding amount.
(b) All provisions of this chapter shall apply to the income tax surcharge. The director of taxation shall have all the rights and powers provided under this chapter to administer the surcharge.
(c) The penalties provided by section 231-39 for failure to file a tax return shall be imposed on the amount of surcharge due on the return being filed for the failure to file the schedule required to accompany the return. In addition, there shall be added to the tax an amount equal to ten per cent of the amount of the surcharge and tax due on the return being filed for the failure to file the schedule.
(d) All taxpayers who file on a fiscal year basis whose fiscal year ends after December 31 of the year prior to the taxable year in which the taxes become effective, shall file a short period annual return for the period preceding January 1 of the taxable year in which the taxes become effective. Each fiscal year taxpayer shall also file a short period annual return for the period starting on January 1 of the taxable year in which the taxes become effective, and ending before January 1 of the following year.
(e) The department of taxation may adopt rules pursuant to chapter 91 to effectuate this Act."
SECTION 2. New statutory material is underscored.
SECTION 3. This Act shall take effect on January 1, 2011; provided that this Act shall:
(1) Be repealed on December 31, 2012; and
(2) Apply to taxable years beginning after December 31, 2010 and ending before January 1, 2013.
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INTRODUCED BY: |
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Report Title:
Income Tax; Surcharge; Federal Insurance Compensation Act
Description:
Imposes a 6.2% income tax surcharge on an individual's gross income, for purposes of FICA, in excess of FICA's maximum withholding amount.
The summary description of legislation appearing on this page is for informational purposes only and is not legislation or evidence of legislative intent.
