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Hawaii Confirms 2018 Tax Changes

by Mike Godfrey, Tax-News.com, Washington

28 December 2017


Hawaii's Department of Taxation has issued a reminder to taxpayers about tax changes taking effect from the new year.

The tax changes include an increase to the transient accommodation tax and authorizing counties to establish a surcharge.

Beginning on January 1, 2018, the Transient Accommodations Tax (TAT) applied to lodging accommodations in Hawaii will increase by one percent, raising the tax rate from 9.25 percent to 10.25 percent.

Beginning on January 1, 2018, quarterly filings will be required from all employers subject to withholding tax. Previously, only employers with less than USD5,000 in annual liability were allowed to file quarterly. Payment frequencies will remain unchanged.

For tax year 2018 and beyond, taxpayers who claim the renewable fuels production tax credit must file a third-party certified statement with the Department of Business, Economic Development, and Tourism.

In addition, for tax years 2018 through 2022, the general excise tax exemption for affordable housing is expanded to include a new category of projects.

Income tax law has been amended by reducing the income tax burden of lower-income taxpayers and increasing the income tax burden for the highest income taxpayers for tax year 2018 and beyond. This is specifically done by establishing a state earned income tax credit, reinstating three tax rates, and brackets for the highest-income taxpayers, which expired in 2015, and making the food/excise tax credit permanent, the Department said.

TAGS: tax | law | food | tax rates | withholding tax | United States | Tax

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