Hate speech on social media poses significant challenges for content moderation and user safety. While various datasets exist for hate speech detection, existing approaches treat hate speech as a monolithic phenomenon, detecting hateful content by using simple categorical labels such as hate, offensive, or toxic. This approach fails to distinguish between the speaker’s underlying motivations and the content’s potential societal consequences. This paper introduces I2-Hate, a novel dataset with a dual taxonomy that separately captures Intent (why the speaker produced hate speech) and Impact (what harm it may cause to individuals and communities) of online hateful posts. This dual-taxonomy approach enables moderation systems to differentiate hateful content based on underlying motivation and potential harm, supporting more nuanced intervention strategies. We release the I2-Hate dataset and code publicly.