STAND. COM. REP. NO. 1232
RE: S.B. No. 1196
Honorable Scott K. Saiki
Speaker, House of Representatives
Thirty-First State Legislature
Regular Session of 2021
State of Hawaii
Your Committee on Economic Development, to which was referred S.B. No. 1196, S.D. 2, entitled:
"A BILL FOR AN ACT RELATING TO WITHHOLDING TAX,"
begs leave to report as follows:
(1) Amend the due date for employers to file the wage and tax statement from the last day of February to January 31 following the close of the calendar year; and
(2) Impose a penalty on employers that fail to timely furnish and file the wage and tax statement.
Your Committee finds that under existing state law, there is no penalty if an employer fails to furnish an employee with their wage and tax statement (Form W-2) or fails to file a copy of Form W-2 with the Department of Taxation. This measure would encourage further compliance with the requirements of state tax law.
As affirmed by the record of votes of the members of your Committee on Economic Development that is attached to this report, your Committee is in accord with the intent and purpose of S.B. No. 1196, S.D. 2, and recommends that it pass Second Reading and be referred to your Committee on Finance.
Respectfully submitted on behalf of the members of the Committee on Economic Development,
SEAN QUINLAN, Chair