HI HB2306

Amends Hawaii's income tax brackets for joint filers and surviving spouses for taxable years beginning after December 31, 2024, expanding the lowest bracket (1.40%) from $4,800 to $19,200.

Raises income thresholds across all tax brackets, with the top 11% rate applying to income over $650,000 (up from $400,000 under prior law).

Eliminates previously scheduled bracket adjustments that were set to take effect after December 31, 2026 and December 31, 2028.

Maintains the graduated rate structure with 12 brackets ranging from 1.40% to 11.00%, with corresponding adjustments to base tax amounts at each threshold.

Applies the same restructuring to single filers and heads of household through amendments to subsections (b) and (c) of Section 235-51, Hawaii Revised Statutes.