taxes

Most Hawaiʻi residents will likely see lower income taxes next year due to a measure passed by the state Legislature. Lawmakers say it's the biggest tax cut in state history: about $5 billion over the next five years. As HPR's Ashley Mizuo explains, some advocates say those changes could limit tax assistance for those who need it most.

At the start of the 2024 legislative session, lawmakers warned they would face tough decisions while focusing on Maui's recovery and balancing core government functions.

The Hawaiʻi Department of Taxation said this tax scam is sent via mail and warns taxpayers to be alert for other scams.

The Senate's Ways and Means committee approved a version of House Bill 1327 on Wednesday. It would give educators a tax credit for expenses such as books, computer equipment and classroom supplies for keiki.

HB 1049 originally included a new tax credit for teachers that could be used to purchase classroom supplies. But WAM chair Donovan Dela Cruz suggested moving that specific credit to HB 1327.

Gov. Josh Green celebrated 100 days in office this week. Per campaign promises, Green has pushed efforts to build more affordable housing. For example, his administration initiated the building of the first neighbor island kauhale village on Hawaiʻi Island.

Lawmakers are reaching the halfway point of the 2023 legislative session. The Conversation checks back in with Tom Yamachika from the Tax Foundation of Hawaii about the latest tax bills failing and passing.

Hawaiʻi's congressional delegation has asked the U.S. Internal Revenue Service to correct the tax liability of families affected by the leak from the Navy Red Hill fuel storage facility in 2021.

Included in the overall package is a one-time $300 property tax credit for qualifying homeowners on Oʻahu. The city estimates it will help nearly 152,000 homeowners, amounting to about $45.5 million.

Housing advocates hope lawmakers will create a dedicated stream of funding for homeless services this legislative session. This comes after a bill that sought to raise the conveyance tax from 2% to 6% for properties selling for over $2 million did not meet an important deadline. HPR's Casey Harlow has more.