HI SB2833

Exempts taxpayers age 65 and older from Hawaii income tax if their federal and Hawaii adjusted gross income does not exceed specified thresholds.

Establishes income limits for exemption eligibility: $45,000 for joint filers, $35,000 for head of household filers, and $25,000 for single filers or married filing separately.

For jointly filing couples where only one spouse is 65 or older, the couple's combined income must not exceed $45,000 and that spouse must individually qualify under the $25,000 threshold.

Requires qualifying taxpayers to file a tax return to claim the exemption and does not exempt them or their employers from tax withholding requirements.

Takes effect upon approval and applies to taxable years beginning after December 31, 2014.