leaves1.jpg

HARPTA & FIRPTA


harpta

HARPTA stands for Hawaii Real Property Tax Act. It is a law, not a tax, a common misunderstanding. Sale of Hawaii Real Estate by a Non-Hawaii resident is subject to a Hawaii State Tax. The tax liability belongs to the seller, and 7.25% of the total sales price will be withheld and submitted to the State of Hawaii Department of Taxation.

HARPTA - STATE OF HAWAII DEPARTMENT OF TAXATION:

HTTPS://WWW.HAWAII.GOV/TAX

OAHU (808) 587-4242

MAUI (808) 984-8500

KAUAI: (808) 274-3456

BIG ISLAND (808) 974-632


firpta

FIRPTA stands for Foreign Investment in Real Property Tax Act. It is a law, not a tax, a common misunderstanding. Sale of United States property by a foreign person is subject to a federal withholding. The tax liability belongs to the seller, and 15% of the total sales price will be withheld and remitted to the IRS

Exceptions Apply: please contact a real property tax professional for further advice and guidance.

FIRPTA - INTERNAL REVENUE SERVICE

https://www.irs.gov/individuals/international-taxpayers/firpta-withholding