Dept. of Taxation launches website to help Hawaii taxpayers chart savings
HONOLULU (HawaiiNewsNow) - On Tuesday, the Department of Taxation introduced a new website to help working individuals and families learn about the state’s income tax cut and calculate estimated tax savings.
TaxCutHawaii.org comes as the state’s largest income tax cut takes effect.
Under the new tax law, standard deductions will gradually increase through tax year 2031 and income tax brackets will also see adjustments from the 2024 tax year through 2031.
The changes will be automatically applied once taxpayers file their 2024 state tax return.
As of Jan. 1, 2025, employers and payroll providers have implemented the Dept. of Taxation’s updated withholding tables. This means employees should see less state income tax withheld from their paychecks compared to last year.
While all taxpayers will see savings, households earning $150,000 or less will see the biggest relief.
The new web tool intends to aid residents in calculating their estimate take home pay under the new law. It will also feature a tax rate calculator, FAQ section, and educational resources.
For more information, visit TaxCutHawaii.org.
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