Bill > HB2329

This bill updates Hawaii's income, estate, and generation-skipping transfer tax laws to align with the federal Internal Revenue Code (IRC) as amended up to December 31, 2025, meaning that for tax years beginning after December 31, 2025, Hawaii will generally follow federal tax rules for determining income, estates, and taxable transfers. The bill specifically amends sections related to income tax conformity, adjusting the date for federal IRC amendments to December 31, 2025, and also modifies provisions concerning taxable income, standard deductions, and various other IRC sections that are either adopted or excluded for Hawaii's tax purposes, with some specific adjustments to standard deduction amounts and the non-operation of certain federal provisions. For estate and generation-skipping transfer taxes, the bill similarly aligns Hawaii's laws with the federal IRC as of December 31, 2025, for decedents dying or transfers occurring after December 31, 2025.

Budget and Finance

https://www.capitol.hawaii.gov/session/measure_indiv.aspx?billtype=HB&billnumber=2329&year=2026