HB829 Summary

• Amends Hawaii income tax rates for taxable years beginning after December 31, 2018, affecting three taxpayer categories: joint filers/surviving spouses, heads of household, and unmarried individuals.

• Modifies tax brackets and marginal rates to prevent bracket creep caused by increases in the state's minimum wage, adjusting income thresholds and base tax amounts across multiple income levels.

• For joint filers, increases top marginal tax rate from 8.25% to 11.00% on income over $400,000, while adjusting lower brackets and base amounts.

• For heads of household, increases top marginal tax rate from 8.25% to 11.00% on income over $300,000, with corresponding adjustments to intermediate brackets.

• For unmarried individuals, increases top marginal tax rate from 8.25% to 11.00% on income over $200,000, with adjustments throughout the tax brackets.