May 14, 2018
From KPMG TaxWatch
Legislation (Senate Bill 2514) has been sent to Governor Ige for signature that adopts economic nexus standards for Hawaii General Excise Tax purposes. The General Excise Tax is Hawaii’s sales and use tax equivalent. Under Senate Bill 2514, a person is considered to be engaging in business in Hawaii for the purpose of the general excise tax law if, in the current or immediately preceding calendar year, the person has $100,000 or more in gross income, or two hundred or more separate transactions, from the sale of tangible personal property delivered into Hawaii, services used or consumed in Hawaii, or intangible property used in Hawaii. The law change will take effect on July 1, 2018, and applies to taxable years beginning after December 31, 2017. Please stay tuned to TWIST for more nexus updates.
For more information about TWIST or to view archived episodes, please visit our TWIST homepage.
To receive TWIST e-mails each Monday morning, make sure that state, local and indirect is checked off as one of your topics of interest on the KPMG TaxWatch registration site.
The following information is not intended to be "written advice concerning one or more federal tax matters" subject to the requirements of section 10.37(a)(2) of Treasury Department Circular 230.
The information contained herein is of a general nature and based on authorities that are subject to change. Applicability of the information to specific situations should be determined through consultation with your tax adviser.