HOUSE OF REPRESENTATIVES

H.B. NO.

1226

THIRTIETH LEGISLATURE, 2019

 

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

     for taxpayers filing

     a single return                   Credit per exemption

     [Under $5,000                           $110

     $5,000 under] Under $10,000             [$100] $110

     $10,000 under $15,000                  [$ 85] $100

     $15,000 under $20,000                  [$ 70] $ 85

     $20,000 under $30,000                  [$ 55] $ 70

     $30,000 [and over] under $40,000        [$ 0.] $ 55

     $40,000 under $50,000                   $ 45

     $50,000 under $60,000                   $ 35

     $60,000 and over                        $  0.

     Adjusted gross income

     for heads of household,

     married individuals filing

     separate returns, and

     married couples filing

     joint returns                     Credit per exemption

     [Under $5,000                           $110

     $5,000 under $10,000                    $100

     $10,000 under $15,000                   $ 85

     $15,000 under] Under $20,000            [$ 70] $110

     $20,000 under $30,000                  [$ 55] $100

     $30,000 under $40,000                  [$ 45] $ 85

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

     $50,000 [and over] under $60,000        [$  0.] $ 55

     $60,000 under $70,000                   $ 45

     $70,000 under $80,000                   $ 35

     $80,000 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  Statutory material to be repealed is bracketed and stricken.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, 2018.

 

INTRODUCED BY:

_____________________________

 

 


 


 

Report Title:

Refundable Food/Excise Tax Credit; Income Brackets; Credits

 

Description:

Amends the refundable food/excise tax adjusted gross income brackets and the accompanying credit amounts.

 

 

 

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