Have you heard of G.E. taxes? Here’s what you need to know about them.
I have a somewhat serious topic to talk to you about this month. It’s general excise taxes, also known as GE taxes here in Hawaii.
In order to do business in Hawaii as a property owner, your rental becomes a business and is susceptible to a 4.5% GE tax. You are required to fill out a BB-1 application form, get your general excise tax number, and register it with the state department of taxation.
“We can assist you with paying these taxes.”
As an owner, you have to do this. If you work with us, we can assist you in paying these taxes. We have a CPA firm that we hire to make sure these taxes are filed correctly and on time.
If you have any questions for me, don’t hesitate to reach out to me or one of my property managers. We would be happy to answer them.