From Pacific Business News

Hawaii Gov. David Ige on July 8 signed into a law a measure that will increase the refundable food/excise tax credit amount for taxpayers who earn no more than $30,000 each year.

"Hawaii has the highest cost of living and the refundable food/excise tax credit was originally devised as a way to reduce the burden on those who can least afford to pay taxes," Ige said shortly before signing the bill into law. "It has been a number of years since there has been any adjustment in that tax credit, so I am honored to be able to sign this into law."

The new law, introduced by Sens. Will Espero (D, Ewa Beach-Iroquois Pointe) and Suzanne Chun Oakland (D, Liliha-Downtown Honolulu), eliminates the tax credits that were previously set aside for individual taxpayers whose adjusted gross income was between $30,000 and $50,000. Instead, it will slightly increase the tax credit amount that individuals who earn no more than $30,000 can claim per exemption.

Those increases range from $25 for taxpayers whose adjusted gross income is less than $10,000 to $10 for taxpayers whose adjusted gross income is between $20,000 to $30,000.

The new law also allows heads of households, married individuals filing separate returns and married couples filing joint returns to also receive the refundable food/excise tax credit, if they earn less than $50,000.

 

 

JOIN HANO

Your Membership Is Important: The more nonprofit members HANO has the more effective the Alliance can be on their behalf. To learn more about HANO and to apply for membership, joining more than 270 Hawaii nonprofits who are already members, click  HERE.

TRY HANO's Job Bank

Hire the Best; Find a New Job: HANO's powerful online Job Bank brings Hawaii nonprofit employers and jobseekers together. Employers, post a job or scan candidate resumes. Job hunters, post your resume for FREE and let jobs find you. Check it out − click HERE.

USE HANO Consultants

Let HANO Assist You: We can bring workshops like board governance, budgeting, fund development and advocacy to your nonprofit. We also facilitate conversations and planning sessions and provide other services. For details, click HERE.

Copyright 2017, Hawai'i Alliance of Nonprofit Organizations