Hawaii’s New ‘Millionaire Tax’ Rivals Top Rate Among Other States
The law preserves most 2024 tax cuts for lower- and middle-income households while affecting about 2,300 returns and adding $53 million in 2027 revenue, officials said.
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Yahoo News: Hawaii’s new ‘millionaire tax’ rivals top tax rate among other states
Nick Johnson, senior fellow at the Institute on Taxation and Economic Policy, another Washington, D.C.-based nonprofit and nonpartisan tax policy organization, told the Hawaii Tax Review Commission during a June 16 meeting that the state’s personal income tax is “quite progressive” given its graduated rate structure and low-income tax credits.
Hawaii Tribune-Herald
Hawaii’s new ‘millionaire tax’ rivals top rate among other states
Personal income tax rates in Hawaii will become a little more progressive next year in part due to a new top rate for high-income households that puts the isles closer to the state with the highest rate. The post Hawaii’s new ‘millionaire tax’ rivals top rate among other states appeared first on Hawaii Tribune-Herald.
Hawaii’s new ‘millionaire tax’ rivals top tax rate among other states | Honolulu Star-Advertiser
Personal income tax rates in Hawaii will become a little more progressive next year in part due to a new top rate for high-income households that puts the isles closer to the state with the highest rate.
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