Oct 26, 2023 | Tax Research Insights
Hawaii has several tax credits that promote social welfare. The Food/Excise Tax Credit is the most frequently claimed tax credit. The Earned Income Tax Credit (EITC) is the second most commonly claimed tax credit. The credit is 20% of the federal EITC allowed and...
Jun 26, 2023 | Tax Research Insights
This post looks at how Hawaii’s individual income tax burden compares to other states. The relative level of taxation is one of many factors affecting the economic competitiveness. The level of taxation must be assessed with other factors like the quality and quantity...
Nov 25, 2022 | Tax Research Insights
A resident taxpayer may qualify for a tax credit that offsets some of the cost of childcare. The tax credit is called the Tax Credit for Child and Dependent Care Expenses. The credit is normally the third most commonly claimed tax credit, but it fell to fourth place...
Nov 10, 2022 | Tax Research Insights
The pandemic took a big toll on Hawaii’s tourism industry. Global shutdowns drastically curtailed the ability for travel. Governor’s Ige decision to restrict air travel to Hawaii also reduced the number of visitors. What is interesting is that the subsequent recovery...
