HI HB2521

Establishes a nonrefundable income tax credit for taxpayers who hire an elderly individual (age 60 or older) in Hawaii.

Credit equals 50 percent of qualified wages paid during the first six months after the elderly individual is initially hired.

Unused credits may be carried forward to subsequent tax years until exhausted, with an annual per-taxpayer limit (amount to be determined).

Excludes wages paid to elderly individuals who are family members, business owners with more than 50 percent ownership, estate/trust beneficiaries, or previously employed by the same employer.

Claims must be filed within 12 months following the taxable year in which the credit is earned; applies to taxable years beginning after December 31, 2017.