STAND. COM. REP. NO.  1580

Honolulu, Hawaii

                , 2017

RE:   S.B. No. 1007

      S.D. 1

Honorable Joseph M. Souki

Speaker, House of Representatives

Twenty-Ninth State Legislature

Regular Session of 2017

State of Hawaii

Sir:

     Your Committee on Finance, to which was referred S.B. No. 1007, S.D. 1, entitled:

"A BILL FOR AN ACT RELATING TO WITHHOLDING TAX,"

begs leave to report as follows:

The purpose of this measure is to promote effective tax administration and mitigate burdens on employers by changing the frequency of filing income tax withholding returns from monthly to quarterly.

The Department of Taxation and The Chamber of Commerce Hawaii supported this measure.  The Tax Foundation of Hawaii provided comments.  

     As affirmed by the record of votes of the members of your Committee on Finance that is attached to this report, your Committee is in accord with the intent and purpose of S.B. No. 1007, S.D. 1, and recommends that it pass Second Reading and be placed on the calendar for Third Reading.

Respectfully submitted on behalf of the members of the Committee on Finance,

____________________________

SYLVIA LUKE, Chair