![]() ![]() TRUST - Transfer to or from a trust, which is not for a business purpose. Your transaction does not qualify for an exemption under section 247-3, HRS. Please checkmark only one of the two boxes. THE CONVEYANCE INVOLVES AN ACTUAL AND FULL CONSIDERATION OF $100 OR LESS. Do not enter “See Attached,” since attachments may become separated fromĢ. Otherwise, Form P-64B will not be approved. DESCRIBE TRANSFER: State the relationship between the parties and a detailed explanation of the transfer (e.g., gift) or correction or confirmation (e.g.,Įrror in description of property). Please allow ten (10) business days from the date documents are received for the Department of Taxation’s review.ġ. Box 259, Honolulu, Hawaii 96809-0259, or at 830 Punchbowl Street, Room 124, in Honolulu before filing it with the Bureau ![]() PART III - If the exemption you are claiming is listed in this part, submit this form for approval to the Department of Taxation, Technical If both Part III and Part IV are completed, Form P-64B will not be accepted/approved. SIGNATURES ARE REQUIRED.)ĬAUTION: Use either Part III or Part IV. If the transfer does not qualify for an exemption from the conveyance tax, you will need to file Form P-64A, instead of Form P-64B, Check the Specific Instructions for Form P-64B to see if the transfer qualifies for anotherĮxemption. Is the total amount of the actual and full consideration more than $100? If so, the exemption for a conveyance that involves an actual andįull consideration of $100 or less is not applicable. Total amount of actual and full consideration (add lines 1 through 7). Value of interest in limited liability company/limited liability partnership/partnership.ħ. Value of real property interests exchanged.ĥ. Enter all amounts paid or required to be paid for the real property interest conveyedġ. Please provide real property tax billing address, if different from assessment address (do not enter “Same” or “No Change”): Please provide mailing address for assessment notice (do not enter “Same” or “No Change”): If document will not be recorded, please provide: (1) land area and (2) address or short legal description of property here: _ PURCHASER(S) / TRANSFEREE(S) / GRANTEE(S), ETC.Ģ. SELLER(S) / TRANSFEROR(S) / GRANTOR(S), ETC. If any area is incomplete, Form P-64B will not be accepted/approved.ģ. Note: Section 247-6, Hawaii Revised Statutes (HRS), requires this form to be filed for the exempt transfers listed in Parts III & IV of this form. Website at or call the Department to request forms To obtain the Instructions, go to the Department of Taxation’s DO NOT STAPLE.īefore completing this form, please read the Instructions for Form P-64A andįorm P-64B. The measure now goes to the full Senate for further consideration and a floor vote.Exemption from Conveyance Tax Form P-64B, Rev 2019, Exemption from Conveyance TaxForm P-64BĬLIP THIS FORM TO DOCUMENT TO BE RECORDED. However, the Chamber of Commerce Hawaii and others have warned the tax increases will do more harm to Hawaii’s economy just as the state is struggling to emerge from the pandemic. Supporters of the bill contend it would require Hawaii’s wealthiest residents to pay a larger share of the cost of state government, making the tax system more fair. Properties worth more than $4 million would see their conveyance tax double, the tax on sales for more than $6 million would triple, and sales of properties worth more than $10 million would quadruple. The proposed conveyance tax increase in the bill would apply to sales of non-owner occupant properties worth $4 million or more. Senate Ways And Means Committee Chair Donovan Dela Cruz on the chamber floor in 2020. Currently estates of $5.49 million or less are exempt from the tax, but the bill would limit that exemption to estates totaling $3.5 million or less. The latest draft of House Bill 58 would also adjust the state inheritance tax by reducing the dollar value of inheritance that is exempt from the tax. The Senate Ways and Means Committee unanimously approved a bill Thursday to generate extra cash for state government by increasing the state conveyance tax on multi-million dollar property sales. ![]()
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