Update your HR operating systems for 2024 to reflect new employment laws and guidelines, including the following:
2024 disability compensation contribution withholding requirements and payment provisions for Temporary Disability Insurance (TDI), Workers’ Compensation (WC) and Prepaid Health Care (PHC) are as follows:
For information on computation, see the DLIR Dec. 1st notice: https://labor.hawaii.gov/dcd/files/2019/11/newWBA.pdf
Standard mileage rate for business expenses: The IRS increased the optional standard mileage rate to 67 cents per mile, effective Jan. 1, 2024, an increase of 1.5 cents from 2023. The cents per mile recommended by the IRS is the highest tax-free reimbursement employees using a personal vehicle for business driving can receive from employers. See IRS Notice 2024-08.
2024 Hawaii unemployment insurance rate Employers’ contribution rate to the state Unemployment Compensation Trust Fund will follow Contribution Rate Schedule D (see table below).
| Taxable Wage Base (per employee) | $59,100 |
| Tax Rate for New Employers | 3.00% |
| Maximum Tax Rate | 5.80% |
| Employment and Training Assessment (E&T) Rate | 0.01% |
| Maximum Weekly Benefit Amount | $796 |