Hawaii State Income Tax

Hawaii has a progressive income tax system with 12 tax brackets for 2024. Tax rates range from 1.4% to 11%, among the highest state income tax rates in the country.

• Tax Brackets (2024): Hawaii's 12 tax brackets range from 1.4% on the lowest income bracket to 11% on income over $200,000 for single filers and over $400,000 for married couples filing jointly.
• Standard Deduction: $2,350 for Single and Married Filing Separately, $4,700 for Married Filing Jointly, and $3,620 for Head of Household.
• Personal Exemptions: $1,144 per person in 2024. Each taxpayer, spouse, and dependent counts as one exemption.

Hawaii Tax Credits

Hawaii offers several state-specific tax credits that may reduce your tax liability (not calculated in this calculator):

• Food/Excise Tax Credit: A refundable credit for low and moderate income residents to offset the general excise tax on food.
• Renewable Energy Tax Credits: Tax credits for installing solar water heaters, wind energy systems, and other renewable energy technologies.
• Low-Income Household Renters Credit: A credit for renters with adjusted gross income under certain thresholds.

Federal Income Tax

Your federal income tax is calculated based on federal tax brackets, your filing status, deductions (standard or itemized), and allowances claimed on your W-4 form. Pre-tax deductions like 401(k) or HSA contributions reduce your federal taxable income.

FICA Taxes (Social Security & Medicare)

FICA taxes fund Social Security and Medicare. These are typically withheld by employers.

• Social Security: 6.2% on income up to the annual limit ($168,600 for 2024).
• Medicare: 1.45% on all income. An additional 0.9% Medicare tax applies to income above certain thresholds ($200,000 for Single, $250,000 for MFJ).

Other Hawaii Taxes (Not Calculated Here)

While this calculator focuses on income taxes, be aware of other taxes in Hawaii:

• General Excise Tax (GET): Hawaii's version of a sales tax, which applies to almost all business activities at 4% (4.5% on Oahu).
• Property Tax: Property taxes in Hawaii are relatively low compared to other states, administered at the county level.
• Transient Accommodations Tax: A tax on hotel rooms and other short-term rentals.

Disclaimer: This information is for general guidance for the 2024 tax year and is not tax advice. Consult a tax professional for personalized advice.