Bill > HB2734

This bill increases the capital gains tax for nonresident and foreign taxpayers in Hawaii. Specifically, it imposes a 29% tax on the capital gains of nonresident taxpayers and a 150% tax on the capital gains of foreign taxpayers, in addition to the regular income tax. The bill also increases the alternative capital gains tax for corporations, setting a 16% rate for nonresident corporations and a 150% rate for foreign corporations. These changes apply to taxable years beginning after December 31, 2023.