HARPTA REFUND

SOLUTIONS

What We Do

exemptions

In certain instances if you can prove that no capital gains tax will be due on the transaction, the state will grant a waiver which exempts you from HARPTA withholding. If you qualify for this waiver, HARPTA Refund Solutions can prepare and file the appropriate forms with the Hawaii Department of Tax which will bring your withholding amount from 7.25% to 0%. (Must be applied for 10 days in advance of the intended closing date - strict deadlines and rush charges apply for exemptions ordered within three weeks of closing.)

early refunds

Many of our clients were unaware of the large withholding requirements of HARPTA. With the size of the typical real estate transaction in Hawaii, it is not unusual for the withholding to exceed $100,000. We will prepare and file your refund application for return of your excess HARPTA withholding. Processing times vary and though refunds can take up to 16 weeks, the majority arrive in 4-8 weeks.

compliance (back filing)

You can’t receive a HARPTA withholding refund or apply for a HARPTA exemption unless you’re compliant with all Hawaii tax filings. If you were renting your property and failed to file income, general excise and/or transient accommodation tax returns, you must file these prior to applying for HARPTA refunds or exemptions. We can prepare and file any delinquent returns necessary to allow you to seek your exemption and refund.

consulting

Call HARPTA Refund Solutions before scheduling your close. We can assist with the process and help assure timely and accurate filing of exemptions. Already closed? Call us for refund assistance or with help filing Hawaii back taxes.