Hawaii Tax Department Announces Individual Income Tax Changes, Updated Withholding Form, Employer Guide

The Hawaii Department of Taxation announced that recent legislation increases the individual income tax standard deduction amounts, with amendments taking effect in tax years 2024, 2026, 2028, 2030, and 2031. The announcement also states that the legislation amends the income tax brackets by increasing the income limits in each bracket, with amendments taking effect in tax years 2025, 2027, and 2029. The Department announced that it will be amending Form HW-4, Employee’s Withholding Allowance and Status Certificate, and Booklet A, Employer’s Tax Guide, later this year for tax years 2025 and beyond. However, Form HW-4 and Booklet A will not ...