INSTRUCTIONS: HAWAII WITHHOLDING TAX RETURN FOR DISPOSITIONS BY NONRESIDENT PERSONS OF HAWAII REAL PROPERTY INTERESTS (Form N-288)
In Hawaii, if you purchase a piece of property from someone who is not a resident, you are generally required to submit a 5% payment to collect state sales tax the buyer is not paying. This Form N-288 must be completed by the person making the purchase. The document is available on the website of the Hawaii Department of Taxation. This form must be submitted in conjunction with a copy of Form N-288A, which is completed by the seller.
Hawaii Withholding Tax Return For Dispositions By Nonresident Persons Of Hawaii Real Property Interests N-288 Step 1: Enter the name of the person purchasing the property in section one, as well as their full address and Social Security or Federal Employer Identification Number.
Hawaii Withholding Tax Return For Dispositions By Nonresident Persons Of Hawaii Real Property Interests N-288 Step 2: In section two, give a description of the property, including its tax map key number.
Hawaii Withholding Tax Return For Dispositions By Nonresident Persons Of Hawaii Real Property Interests N-288 Step 3: In section three, give the date on which the transfer of property was formalized.
Hawaii Withholding Tax Return For Dispositions By Nonresident Persons Of Hawaii Real Property Interests N-288 Step 4: In section four, indicate how many forms N-288A are attached.
Hawaii Withholding Tax Return For Dispositions By Nonresident Persons Of Hawaii Real Property Interests N-288 Step 5: In section five, indicate how much money was paid in the transaction. If the transaction is being conducted on an installment basis, give the sum of the principal payments for the year.
Hawaii Withholding Tax Return For Dispositions By Nonresident Persons Of Hawaii Real Property Interests N-288 Step 6: In section six, give the amount withheld for the purposes of this payment.
Hawaii Withholding Tax Return For Dispositions By Nonresident Persons Of Hawaii Real Property Interests N-288 Step 7: The purchaser should sign and date the form, as well as providing their job title if applicable.
Hawaii Withholding Tax Return For Dispositions By Nonresident Persons Of Hawaii Real Property Interests N-288 Step 8: Any paid preparer should print and sign their name, give the date, their identification number, and indicate if they are self-employed or give their firm's name.
