Overview of Hawaii Taxes
As you stop by here for using our Hawaii Hourly Paycheck Calculator or Hawaii Salary Paycheck Calculator, let us also introduce you to the tax system here. Hawaii has 12 tax brackets (ranging from 1.40% to 11.00%) applicable to paychecks according to the level of income. Its highest tax rate is much more than the national average.
Residents here don’t have to pay local income taxes but are liable to pay FICA and federal income tax as applicable. Your take-home pay will be calculated after deducting 1.45% for Medicare and 6.2% for Social Security taxes. This amount will be equalized by the employer and filed towards annual income taxes. However, if you make more than $200,000 then 0.9% additional Medicare applicable will not be matched by the employer.
You can decide on withholdings and utilize them smartly for increasing savings with pre-tax deductions. For instance, you can inform the employer to deduct pre-tax contributions like retirement plans, health savings accounts, commuter benefits, etc before deriving your net pay. Use W-4 Form to do so.
Update your W-4 Form whenever required and submit it to the employer. You’ll need to update it whenever your marital status changes, you have dependents, or your tax filing status changes.
Instant Hawaii Paycheck Calculator in your Budget
Gone are the days when making a paycheck was a cumbersome task. This modern era has one of the best, most efficient & affordable Hawaii paycheck calculators. It is super-easy for calculating employee and contractor payroll in minutes. Our Hawaii paystub generator takes less than 5 minutes to make a paycheck, provided that you have all the required details beforehand.
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Hawaii Paycheck Calculator