Hawaii has something called the GET Tax (General Excise Tax) that you will have to contend with. Every step in a transaction is taxed by each island (rates depend on the island but most are 4% +). At first you think...hmmm, 4% isn't bad but remember that it is charged on everything, every time it moves!
It is also know as a Progressive Tax. Indicating that as transaction starts at the manufacturer or service provider it is taxed each step of the way until the end user owns it.
Hawaii is one of the only states in the US to do this. Be sure to be mindful when you look at purchasing a business in Hawaii. The tax is not be shown as Expense unless it is shown in the Gross Income.
It is also know as a Progressive Tax. Indicating that as transaction starts at the manufacturer or service provider it is taxed each step of the way until the end user owns it.
Hawaii is one of the only states in the US to do this. Be sure to be mindful when you look at purchasing a business in Hawaii. The tax is not be shown as Expense unless it is shown in the Gross Income.