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Hawaii Sale of a Business Package

Hawaii Sale of a Business Package

Name: Hawaii Sale of a Business Package
Brand: US Legal Forms
Price: 59.00 USD
Rating: 4.55 (363 reviews)

Category:

Hawaii Small Business - Business Sale

State:

Hawaii

Control #:

HI-P018-PKG

Format:

Instant download

Description

This package contains essential legal documents to assist individual or corporate buyers or sellers in the sale of a business. You may modify these forms to fit your particular circumstances. Some documents in this package are state-specific.

This package contains the following forms:

1) Agreement for Sale of Business- Sole Proprietorship
2) Asset Purchase Agreement
3) Bill of Sale for Personal Assets
4) Promissory Note
5) Landlord's Consent to Assignment of Lease
6) Retained Employees Agreement
7) Noncompetition Covenant by Seller
8) Profit and Loss Statement
9) Bill of Sale in Connection with Sale of Business by Individual or Corporate Seller

Purchase this package and save up to 40% over purchasing the forms separately!

View Removal of Lessee's Equipment and Personal Property

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View Reservation of Additional Interests in Production

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View Royalty Payments

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View Reservation of A Call on, Or Preferential Right to Purchase Production by Lessor

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View Salt Water - Disposal, Storage, and Handling

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FAQ

General Excise Tax License. Anyone who receives income from conducting business activities in the State of Hawaii including, but not limited to: wholesaling, retailing, farming, services, construction contracting, rental of personal or real property, business interest income, and royalties. One-time. $20 at

From the Hawaii Tax Foundation: The Hawaii general excise tax is eligible for the state or local sales tax deduction for federal tax purposes on schedule A of form 1040. Remember that you can deduct only one - your state income taxes paid or your sale tax (in our case general excise tax) paid.

The Hawaii sales tax rate is currently 4%.

A business must register for a General Excise Tax license in the state of Hawaii receiving income from almost any business activity including wholesaling, retailing, farming, performing services, construction contracting, rental of personal or real property, business interest income, and even receiving royalties.

Unlike some other states, Hawaii doesn't have a required general business license for all businesses. However, some businesses may be required to obtain permits from state agencies. For example, a business may need a permit related to the environment or health and safety issued by the Department of Health.

Complete Form BB-1, State of Hawaii Basic Business Application, and select GE One-Time Event to register for a one-time event. Use Form G-45, Periodic General Excise/ Use Tax Return, to report and pay the tax due from your one-time event.

1. What is the general excise tax (GET)? The GET is a privilege tax imposed on business activity in the State of Hawaii. The tax is imposed on the gross income received by the person engaging in the business activity.

In addition to form G-45, Hawaii General Excise Taxpayers must complete form G-49 (Annual Return & Reconciliation of General Excise / Use Tax Return) once a year.Form G49 is designed to give you credit for all of the taxes you paid, so if your gross income number is smaller than as expected, you may even get a refund.

Hawaii Sale of a Business Package

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FAQ

What is General Excise Tax License Hawaii?

Is Hawaii general excise tax deductible?

What is the sales tax in Hawaii?

Do I need a GE license in Hawaii?

Do I need to register my business in Hawaii?

How do I file general excise tax in Hawaii?

Who has to pay general excise tax in Hawaii?

What is a G 49 tax form?

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Hawaii Sale of a Business Package

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