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Dec 19, 2024
What are the key steps to register for sales tax when acquiring a business in Hawaii?
When acquiring a business in Hawaii, key steps to register for sales tax include:
Determine Tax Obligations: Confirm if GET registration is required based on business activities.
Obtain an EIN: Secure a Federal Employer Identification Number from the IRS.
Register for GET: Complete and submit Form BB-1 via the Hawaii Tax Online portal.
Verify Previous Compliance: Ensure the prior owner fulfilled all tax obligations to avoid liabilities.
Receive GET License: Obtain and display the General Excise Tax license.
Understand Filing Frequencies: Comply with monthly, quarterly, or annual filings based on sales volume.
Maintain Accurate Records: Keep detailed records for filings and potential audits.
Stay Updated: Monitor changes in tax laws to ensure ongoing compliance.
These steps ensure seamless registration and compliance post-acquisition, facilitating legal operations and effective tax management in Hawaii.



