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The document is a Specialty Forms Package from U.S. Legal Forms, Inc. designed for the sale of a business in Hawaii. It includes essential legal forms such as agreements for sale, asset purchase agreements, bills of sale, and other related documents to assist buyers and sellers in navigating legal issues during the transaction. The package also provides tips for completing the forms and includes a disclaimer regarding the use of these materials.

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What is the sales tax in Hawaii for businesses?

Hawaii does not have a sales tax; instead, we have the GET, which is assessed on all business activities. The tax rate is 0.15% for Insurance Commission, 0.5% for Wholesaling, Manufacturing, Producing, Wholesale Services, and Use Tax on Imports For Resale, and 4% for all others.

How to avoid paying sales tax on a used car?

What Are Some Used Car Sales Tax Exemptions? Vehicles that were made before 1973. Theyre considered historic models. Vehicles made for forestry and agriculture. Certain individuals with a disability may qualify for a car sales tax exemption.

What states dont charge sales tax on used cars?

How can I avoid paying taxes on a car? Drivers in Alaska, Delaware, Montana, New Hampshire, and Oregon dont pay sales tax on the purchase of a new or used car. Also, some states have other laws that will allow you to avoid paying sales tax in certain circumstances.

Do you pay tax on sale of personal vehicle?

Who Pays Sales Tax on a Private Car Sale? You must pay vehicle sales tax when you buy a used car if you live in a state that has sales tax. However, you do not pay that tax to the car dealer or individual selling the car.

Do you pay sales tax on a private party used car in Hawaii?

If the vehicle you purchased was the individuals personal car, then you do not need to pay use tax. The sale of goods by someone not in the business of selling the goods is called a casual sale.

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Do you have to pay sales tax on a used car in Hawaii?

Yes. The landed value of a new or used vehicle purchased out-of-state and imported into Hawaii is subject to use tax at the rate of 4% (4.5% if applicable to the county surcharge). The sales or use tax you paid to another state for your vehicle purchase may be claimed as a credit against your Hawaii use tax.

What is the bulk sales law in Hawaii?

Hawaii has a bulk sales law that could expose the buyer to liability for the sellers taxes. The buyer will want the seller to provide a tax clearance certificate showing that the tax office has notice of the sale.

What is the difference between G 45 and G 49 in Hawaii?

What is the difference between the G-45 and the G-49 Forms? The G-45 is the periodic form which is filed either monthly, quarterly, or semiannually. The G-49 is the annual or so called reconciliation form which is filed annually.