HI HB1042

Amends Section 237-30.5 (Hawaii Revised Statutes) to require persons collecting rent on behalf of real property owners to file annual reports with the Department of Taxation by January 31, including owner name, address, social security number or federal employer identification number, general excise tax number, and total rent collected by county.

Amends Section 237D-8.5 to impose the same annual reporting requirement for persons collecting gross rental proceeds on behalf of transient accommodation operators, including operator name, address, identification numbers, transient accommodations tax registration number, and total amount collected by county.

Requires rent collectors to provide property owners/operators with a copy of the information filed with the Department of Taxation and a written notice explaining Hawaii tax obligations by January 31 each year.

Establishes a penalty of $500 per month or fraction thereof for each owner or operator for which information is not provided, unless the failure is due to reasonable cause and not neglect.

Prevents double penalties by specifying that penalties under both sections shall not both apply to the same failure to comply.