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Hawaii Free Printable Form N-288 Rev 2022 Hawaii Withholding Tax Return for Dispositions by Nonresident Persons of Hawaii Real Property Interests for 2024 Hawaii Hawaii Withholding Tax Return for Dispositions by Nonresident Persons on Property Interest

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Hawaii Withholding Tax Return for Dispositions by Nonresident Persons on Property Interest
Form N-288 Rev 2022 Hawaii Withholding Tax Return for Dispositions by Nonresident Persons of Hawaii Real Property Interests

Clear Form FORM STATE OF HAWAII — DEPARTMENT OF TAXATION HAWAII WITHHOLDING TAX RETURN FOR DISPOSITIONS BY NONRESIDENT PERSONS OF HAWAII REAL PROPERTY INTERESTS N-288 (REV. 2023) 2024 N288_I 2023A 01 VID01 (NOTE: References to “married” and “spouse” are also references to “in a civil union” and “civil union partner,” respectively.) •   ATTACH YOUR CHECK OR MONEY ORDER HERE   •   Copy A of Form(s) N-288A and your check or money order MUST be attached. 1 To Be Completed by the Transferee/Buyer Required to Withhold Complete Lines 1 - 6. Name of Transferee/Buyer Transferee/Buyer’s SSN or FEIN Address (Number and Street) City, State, and Postal/ZIP Code (Province, Postal Code, and Country) 2 Description and Location of Property Acquired (Include Tax Map Key Number) 3 Date of Transfer 4 Number of Forms N-288A Attached 5 6 Total Amount Realized on the Transfer Total Amount Withheld 100 Please Sign Here I hereby declare under penalties provided by section 231-36, HRS, that I have examined this return and accompanying attachments, and, to the best of my knowledge and belief, they are true, correct, and complete. Declaration of preparer (other than individual, partner or member, fiduciary, or corporate officer) is based on all information of which preparer has any knowledge. h  ________________________________________________ ________________________________ ____________________ Signature of Transferee/Buyer (Individual, Partner or Member, Fiduciary, or Corporate Officer) Title (if applicable) Date Date Preparer’s Identification Number Preparer’s signature Check if Paid Print preparer’s name † lf-employed †  Preparer’s Firm’s name (or Federal E.I. No. if self-employed), † Use Only yours address, and Postal/ZIP Code Phone No. General Instructions Purpose of Form A 7.25% withholding obligation is generally imposed on the transferee/buyer when a Hawaii real property interest is acquired from a nonresident person. This withholding serves to collect Hawaii income tax that may be owed by the nonresident person. Use this form to report and transmit the amount withheld. Note: You are not required to withhold if any of the exceptions listed on page 2 apply. See Tax Facts 2010-1, Understanding HARPTA, and Tax Information Release No. 2017-01, Withholding of State Income Taxes on the Disposition of Hawaii Real Property, for more information. Amount to Withhold Generally, you must withhold 7.25% of the amount realized on the disposition by the transferor. See Amount realized under Definitions, later. Joint Transferors/Sellers.—If one or more nonresident persons and one or more resident persons jointly transfer a Hawaii real property interest, first, determine the amount subject to withholding by allocating the amount realized from the transfer among the transferors/ sellers based on their capital contribution to the property. For this purpose, a taxpayer and spouse are treated as having contributed 50% each. Second, withhold on the total amount allocated to nonresident transferors/sellers. Third, credit the amount withheld among the nonresident transferors/sellers as they mutually agree. The transferors/sellers must request that the withholding be credited as agreed upon by the 10th day after the date of transfer. If no agreement is reached, credit the withholding by evenly dividing it among the nonresident transferors/sellers. Who Must File A transferee/buyer of a Hawaii real property interest, including an individual, corporation, partnership, or fiduciary, must file Form N-288 to report and transmit the amount withheld. If two or more persons are joint transferees/buyers, each of them is obligated to withhold. However, the obligation of each will be met if one of the joint transferees/buyers withholds and transmits the required amount to the State of Hawaii, Department of Taxation (Department). When to File A transferee/buyer must report and transmit to the Department the tax withheld by the 20th ID NO 01 † † day after the date of transfer. Timely mailing of Forms N-288 and N-288A by U.S. mail will be treated as timely filing. Hawaii has adopted the Internal Revenue Code (IRC) provision to allow documents and payments delivered by a designated private delivery service to qualify for the “timely mailing treated as timely filing/paying rule.” The Department will conform to the Internal Revenue Service (IRS) listing of designated private delivery service and type of delivery services qualifying under this provision. Timely filing of mail which does not bear the U.S. Post Office cancellation mark or the date recorded or marked by the designated delivery service will be determined by reference to other competent evidence. The private delivery service can tell you how to get written proof of the mailing date. Where to File Mail Form N-288, Copy A of Form(s) N-288A, and your check or money order to: Hawaii Department of Taxation P.O. Box 1530 Honolulu, Hawaii 96806-1530 FORM N-288 (REV. 2023) FORM N-288 (REV. 2023) Form(s) N-288A and Your Check or Money Order Must Be Attached Anyone who completes Form N-288 must also complete a Form N-288A, Statement of Withholding on Dispositions by Nonresident Persons of Hawaii Real Property Interests, for each nonresident transferor/seller subject to withholding. If two or more nonresident transferors/sellers jointly transfer a Hawaii real property interest, prepare a separate Form N-288A for each nonresident transferor/seller. A separate Form N288A should also be prepared for both taxpayer and spouse whether or not they will be filing a joint return for the year in which they transferred their Hawaii real property interest. Copy A and your check or money order must be attached to Form N-288. Copy B must be sent to the transferor/seller. Copy C is for your records. To receive credit for the amount withheld, the transferor/seller must file a Hawaii income tax return. Penalties In addition to the penalties provided under sections 231-34, 231-35, 231-36, and 231-39, Hawaii Revised Statutes (HRS), if a person is required but fails to withhold tax under section 23568, HRS, that person is made liable for the tax. Definitions Nonresident person means every person other than a resident person. Property or real property means all land and appurtenances thereof and the buildings, structures, fences, and improvements erected on or affixed to the land, and any fixture which is erected on or affixed to the land, buildings, structures, fences, and improvements, including all machinery and other mechanical or other allied equipment and the foundations thereof, whose use is necessary to the utility of the land, buildings, structures, fences, and improvements, or whose removal therefrom cannot be accomplished without substantial damage to the land, buildings, structures, fences, and improvements, excluding, however, any growing crops. Resident person means any: (1) Individual included in the definition of “resident” in section 235-1, HRS; (2) Corporation incorporated or granted a certificate of authority under chapter 414, 414D, or 415A, HRS; (3) Partnership formed or registered under chapter 425 or 425E*, HRS; (4) Foreign partnership qualified to transact business pursuant to chapter 425 or 425E*, HRS; (5) Limited liability company formed under chapter 428, HRS, or any foreign limited liability company registered under chapter 428, HRS; provided that if a single member limited liability company has not elected to be taxed as a corporation, the single member limited liability company shall be disregarded for purposes of section 235-68, HRS, and section 235-68, HRS, shall be applied as if the sole member is the transferor; (6) Limited liability partnership formed under chapter 425, HRS; (7) Foreign limited liability partnership qualified to transact business under chapter 425, HRS; (8) Trust included in PAGE 2 the definition of “resident trust” in section 235-1, HRS; or (9) Estate included in the definition of “resident estate” in section 235-1, HRS. Transferee/Buyer means any person, the State and the counties and their respective subdivisions, agencies, authorities, and boards, acquiring real property which is located in Hawaii. Transferor/Seller means any person disposing real property which is located in Hawaii. Amount realized means the sum of the cash paid, or to be paid (not including interest or original issue discount), the fair market value of other property transferred or to be transferred, and the amount of any liability assumed by the transferee/buyer or to which the Hawaii real property interest is subject to immediately before and after the transfer. Generally, the amount realized, for purposes of this withholding, is the sales or contract price. Date of transfer means the first date on which consideration is paid or a liability is assumed by the transferee/buyer. Payment of consideration does not include the payment, before the passage of legal or equitable title (other than pursuant to an initial purchase contract), of earnest money, a good-faith deposit, or any similar sum primarily intended to bind the parties to the contract and subject to forfeiture. However, a payment that is not forfeitable may nevertheless be found to constitute earnest money, a goodfaith deposit, or a similar sum. An individual’s Identification number is the social security number. The IRS issues Individual Taxpayer Identification Numbers (ITINs) to certain aliens who are required to have a U.S. taxpayer identification number but who do not have, and are not eligible to obtain, a social security number. The ITIN issued by the IRS must be used as the individual’s identification number. If the individual has applied for an ITIN but the IRS has not yet issued the ITIN, write “Applied For.” For any other person, the identification number is the federal employer identification number (FEIN). For a single member LLC that has not elected to be taxed as a corporation, where the only member is an individual, the identification number would be the social security number of the individual. For a revocable living trust, or any other trust in which an individual is treated as the owner of the trust, the identification number would be the social security number of the individual. For all other trusts, the identification number would be the FEIN of the trust. Exceptions You are not required to withhold if the transferor/seller furnishes to you Form N-289, Certification for Exemption from the Withholding of Tax on the Disposition of Hawaii Real Property, stating that: 1) The transferor/seller is a resident person, or 2) That by reason of a nonrecognition provision of the IRC as operative under chapter 235, HRS, or the provisions of any United States treaty, the transferor/seller is not required to recognize any gain or loss with respect to the transfer, or 3) For the year preceding the date of the transfer the property has been used by the transferor/ seller as a principal residence, and that the amount realized for the property does not exceed $300,000. If you receive a certification, you cannot withhold any tax, unless you know that the certification is false. The certification must be signed by the individual, a responsible officer of a corporation, a member or general partner of a partnership, or the trustee, executor, or equivalent fiduciary of a trust or estate. Belated notice or false certification.—If after the date of transfer you receive notice that the certification you received is false, you can rely on the certification and not withhold on consideration paid before you received the notice. However, you must withhold the full 7.25% of the amount realized from any consideration that remains to be paid, if possible. You must do so by withholding and paying over the entire amount of each successive payment of consideration until the full 7.25% has been withheld and paid to the Department. These amounts must be reported and transmitted to the Department by the 20th day following the date of each payment. Withholding Certificate Issued by the Department of Taxation A withholding certificate may be issued by the Department to reduce or eliminate withholding on dispositions of Hawaii real property interests by nonresident persons. The certificate may be issued if 1) the transferor/seller will not realize any gain with respect to the transfer, or 2) there will be insufficient proceeds to pay the withholding required after payment of all costs. Attach a copy of the approved Form N-288B, Application for Withholding Certificate for Dispositions by Nonresident Persons of Hawaii Real Property Interests. Specific Instructions Lines 1.—Enter the name and identification number (social security number (SSN) or federal employer identification number (FEIN)) of the transferee/buyer. Enter the home address of the individual or the office address of the entity. Lines 2.—Enter a description of the property including its location and the nature of any substantial improvements, such as an apartment building or warehouse. Include the tax map key number. Line 5.—Enter the amount realized. If the transferor/seller is reporting the gain under the installment method, (i.e., agreement of sales or purchase money mortgages) enter the principal portion of the total payments for the year. Line 6.—Enter the amount withheld. If the amount required to be withheld has been reduced or waived by the Department, attach a copy of the approved Form N-288B. Also, if one or more of the transferors/sellers are exempt from the withholding and you are issuing the exempt transferor/seller a Form N-288A, attach a copy of the exempt transferor/seller’s Form N-289.
Extracted from PDF file 2023-hawaii-form-n-288.pdf, last modified July 2003

More about the Hawaii Form N-288 Individual Income Tax Nonresident TY 2023

We last updated the Hawaii Withholding Tax Return for Dispositions by Nonresident Persons on Property Interest in January 2024, so this is the latest version of Form N-288, fully updated for tax year 2023. You can download or print current or past-year PDFs of Form N-288 directly from TaxFormFinder. You can print other Hawaii tax forms here.


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Related Hawaii Individual Income Tax Forms:

TaxFormFinder has an additional 164 Hawaii income tax forms that you may need, plus all federal income tax forms. These related forms may also be needed with the Hawaii Form N-288.

Form Code Form Name
Form N-288C Application for Tentative Refund of Withholding on Dispositions by Nonresident Persons on Property Interest
Form N-288A Statement of Withholding on Dispositions by Nonresident Persons on Property Interest
Form N-288B Application for Withholding Certificate for Dispositions by Nonresident Persons on Property Interest

Download all HI tax forms View all 165 Hawaii Income Tax Forms


Form Sources:

Hawaii usually releases forms for the current tax year between January and April. We last updated Hawaii Form N-288 from the Department of Taxation in January 2024.

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Form N-288 is a Hawaii Individual Income Tax form. Many states have separate versions of their tax returns for nonresidents or part-year residents - that is, people who earn taxable income in that state live in a different state, or who live in the state for only a portion of the year. These nonresident returns allow taxpayers to specify which which income is subject to the state's taxes, and which is not.

About the Individual Income Tax

The IRS and most states collect a personal income tax, which is paid throughout the year via tax withholding or estimated income tax payments.

Most taxpayers are required to file a yearly income tax return in April to both the Internal Revenue Service and their state's revenue department, which will result in either a tax refund of excess withheld income or a tax payment if the withholding does not cover the taxpayer's entire liability. Every taxpayer's situation is different - please consult a CPA or licensed tax preparer to ensure that you are filing the correct tax forms!

Historical Past-Year Versions of Hawaii Form N-288

We have a total of nine past-year versions of Form N-288 in the TaxFormFinder archives, including for the previous tax year. Download past year versions of this tax form as PDFs here:


2023 Form N-288

Form N-288 Rev 2022 Hawaii Withholding Tax Return for Dispositions by Nonresident Persons of Hawaii Real Property Interests

2022 Form N-288

Form N-288 Rev 2022 Hawaii Withholding Tax Return for Dispositions by Nonresident Persons of Hawaii Real Property Interests

2021 Form N-288

Form N-288 Rev 2021 Hawaii Withholding Tax Return for Dispositions by Nonresident Persons of Hawaii Real Property Interests

2020 Form N-288

Form N-288 Rev 2019 Hawaii Withholding Tax Return for Dispositions by Nonresident Persons of Hawaii Real Property Interests

2018 Form N-288

Form N-288 Rev 2018 Hawaii Withholding Tax Return for Dispositions by Nonresident Persons of Hawaii Real Property Interests

2017 Form N-288

Form N-288 Rev 2017 Hawaii Withholding Tax Return for Dispositions by Nonresident Persons of Hawaii Real Property Interests

2016 Form N-288

Form N-288 Rev 2015 Hawaii Withholding Tax Return for Dispositions by Nonresident Persons of Hawaii Real Property Interests

Forms 2015 - Fillable 2015 Form N-288

Form N-288 Rev 2015 Hawaii Withholding Tax Return for Dispositions by Nonresident Persons of Hawaii Real Property Interests

Forms 2014 - Fillable 2014 Form N-288

Form N-288 Rev 2014 Hawaii Withholding Tax Return for Dispositions by Nonresident Persons of Hawaii Real Property Interests


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