The following credit are available on your Hawaii return:
Refundable Food Excise Tax Credit
You may qualify for this credit if your federal adjusted gross income is less than $50,000 ($30,000 if you’re filing as Single).
Credit for Low Income Household Renters
If you live in and pay rent for a property within the state and your federal AGI is less than $30,000 and your rent for the year is more than $1,000, you may qualify for this credit.
Child Passenger Restraint System Credit
If you are an individual who will file a tax return and purchased one or more new passenger child restraint systems, you may qualify for this credit. Limit is $25 per return.
Credit for Income Taxes Paid to Other States and Countries:
If you have out-of-state income that is taxed by another state or foreign country and also by Hawaii, you may claim a credit against your Hawaii income for the net income tax you paid to the other state or foreign country if you meet the following conditions:
- The income was earned while you were a Hawaii resident (or you are married and filing a joint resident or joint part-year resident return) and was not exempt from Hawaii income tax;
- You did not file an Election Under Act 60, SLH 1976;
- The income on which the state or foreign tax is imposed was derived or received from sources outside Hawaii;
- You were liable for and paid tax to the foreign jurisdiction (net amount of tax paid to a foreign jurisdiction after all credits, reductions, and refunds allowed or allowable by the laws of the foreign jurisdiction have been deducted);
- The tax paid to the other state or foreign country is an income-based tax that is imposed on both residents and nonresidents of the other state or foreign country, rather than a sales, gross receipts, withholding, or value added tax (i.e., taxes withheld on dividends paid from foreign investments do not qualify);
- No credit is allowed if the foreign income is excluded on the federal return;
- No credit is allowed if the foreign tax credit is allowed on the federal return;
- The income must be taxed by the other state or foreign country for the same taxable year for which the Hawaii credit is claimed;
- No credit is allowed for penalties or interest paid to the other state or foreign country; and
- No credit is allowed for city or local income taxes paid to another state.
