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HI SB2506

Bill

Official Source

Status

Engrossed

2/14/2018

Primary Sponsor

Donovan Cruz

Click for details

Origin

Senate

2018 Regular Session

AI Summary

  • Increases the withholding tax rate on amounts realized by nonresidents from the disposition of Hawaii real property from 5% to 7.25%

  • Applies to all real estate dispositions occurring on or after September 15, 2018

  • Amends Section 235-68(b) of the Hawaii Revised Statutes to reflect the new withholding rate

  • Maintains existing provisions that transferees are liable for the withheld tax and are relieved of liability upon payment to the department

Legislative Description

Relating To Taxation.

Hawaii Real Property Tax Law

Last Action

Referred to FIN, referral sheet 29

2/21/2018

Committee Referrals

Finance2/21/2018
Ways and Means1/24/2018

Full Bill Text

No bill text available