Bill Text: HI SB1210 | 2023 | Regular Session | Introduced

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Bill Title: Relating To Taxation.

Spectrum: Partisan Bill (Democrat 11-0)

Status: (Introduced - Dead) 2023-01-27 - Referred to HHS, WAM. [SB1210 Detail]

Download: Hawaii-2023-SB1210-Introduced.html

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THE SENATE	S.B. NO.	1210
THIRTY-SECOND LEGISLATURE, 2023
STATE OF HAWAII

A BILL FOR AN ACT

 

 

Relating to taxation.

 

 

BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF HAWAII:

 

     SECTION 1.  Section 235-55.85, Hawaii Revised Statutes, is amended by amending subsection (b) to read as follows:

     "(b)  Each individual taxpayer may claim a refundable food/excise tax credit multiplied by the number of qualified exemptions to which the taxpayer is entitled in accordance with the table below; provided that a husband and wife filing separate tax returns for a taxable year for which a joint return could have been filed by them shall claim only the tax credit to which they would have been entitled had a joint return been filed.

     Adjusted gross income         Credit per exemption

     for taxpayers filing

     a single return

     Under $5,000                      [$110] $220

     $5,000 under $10,000              [$100] $200

     $10,000 under $15,000             [$ 85] $170

     $15,000 under $20,000             [$ 70] $140

     $20,000 under $30,000             [$ 55] $110

     $30,000 and over                      $  0.

     Adjusted gross income         Credit per exemption

     for heads of household,

     married individuals filing

     separate returns, and

     married couples filing

     joint returns

     Under $5,000                      [$110] $220

     $5,000 under $10,000              [$100] $200

     $10,000 under $15,000             [$ 85] $170

     $15,000 under $20,000             [$ 70] $140

     $20,000 under $30,000             [$ 55] $110

     $30,000 under $40,000             [$ 45] $ 90

     $40,000 under $50,000             [$ 35] $ 70

     $50,000 and over                    $  0."

     SECTION 2.  Statutory material to be repealed is bracketed and stricken.  New statutory material is underscored.

     SECTION 3.  This Act, upon its approval, shall apply to taxable years beginning after December 31, 2022.

 

INTRODUCED BY:	_____________________________

 

 

Report Title:

Income Tax; Refundable Food/Excise Tax; Credit; Increase

 

Description:

Increases the refundable food/excise tax credit.  Applies to taxable years beginning after 12/31/22.

 

 

 

The summary description of legislation appearing on this page is for informational purposes only and is not legislation or evidence of legislative intent.