Tax Information Release 2024-01
Proposed Temporary Administrative Rules Relating to Pass-Through Entity Taxation as Enacted by Act 50, Session Laws of Hawaii 2024
The purpose of this Tax Information Release (TIR) is to provide guidance on changes to the pass-through entity (PTE) tax provided under Act 50, Session Laws of Hawaii 2024 (“2024 Act 50”), and to provide notice of proposed temporary administrative rules relating to the PTE tax and its accompanying credit.
This TIR replaces and supersedes TIR 2023-03 (Amended) for taxable years beginning after December 31, 2023.
Local Businessman Charged With Tax Violations
HONOLULU – On August 5, 2024, Frederick Kamaka Jr., was charged as an individual, and Kamaka Hawai‘i, Inc., was charged as a business, with six counts each for the willful failure to file general excise tax returns for tax years 2017 through 2022, in violation of Section 231-35, Hawai‘i Revised Statutes.
Hawai‘i Department of Taxation Warns Taxpayers About Ongoing Tax Enforcement Scam
HONOLULU – Scammers are persisting in their attempt to impersonate the Hawai‘i Department of Taxation (DOTAX) by sending letters to unsuspecting taxpayers, claiming to seek collection of an overdue debt.
Agenda – Thursday, September 5, 2024
The Department of Taxation’s 2024 Tax Workshop Registration is now open. Please see attached flyer for more information and the link to register.
For taxable years beginning after December 31, 2022, partnerships and S corporations may elect to pay Hawai’i income taxes at the entity level. Eligible members of an electing pass-through entity (PTE) may claim a Hawai’i income tax credit for the pro rata share of PTE taxes paid.
Visit the Pass-Through Entity Taxation page for more information.
To see step-by step instructions on how to pay a Loan-Out Company General Excise Tax (GET) withholding payment on Hawaiʻi Tax Online, click on the “E-Services” tab above and access a Powerpoint presentation in the “Other Resources” section at the bottom of the E-Services page.