Hawaii has made the following changes to tax law for the 2022 tax year:
- Taxpayers may exclude up to $7,345 of their military reserve or Hawaii National Guard duty pay from their income, effective for taxable years beginning after December 31, 2021. (Act 197, SLH 2004)
- Hawaii has assumed the following provisions from the American Rescue Plan Act (ARPA) of 2021 (Act 7, SLH 2022)
- Exclusion from from gross income the amounts received as "recovery rebates" (stimulus payments)
- Exclusion from gross income of cancelled qualified student loans or discharged in 2021 through 2025
- Adopted the special tax treatment of coronavirus-related distributions from eligible retirement plans to individuals from the CARES Act retroactively for taxable years beginning after December 31, 2019
- The end date for the Important Agricultural Land Qualified Agricultural Cost Tax Credit has been extended to December 30, 2030. (Act 139, SLH 2022)
- The Renewable Fuels Production Tax Credit is a new credit that has been established for taxable years beginning December 31, 2021. (Act 216, SLH 2022)
- The Earned Income Tax Credit has been amended to make it refundable and permanent. It provides a carryforward of nonrefundable credits previously claimed. This applies to taxable years beginning after December 31, 2022. (Act 114, SLH 2022)
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