I think folks are doing their taxes

And some more fun reading:

http://www.civilbeat.com/posts/2012/03/19/15263-lawmaking-101-hawaii-style/

Something else to consider:

On the tax ID on website issue (a requirement of SB2947 and other bills), I noticed that Aston objected  because of the work involved as did Exclusive Gateways with Exclusive Gateways looking for an exception for property managed properties (with 10 or more properties).  Of course, if PMs are given an exception, that would be discriminatory.

But, to throw another spanner in the works...  If an important goal of the legislation is proper tax compliance, property managed properties should not be held to a lower standard than owner-managed properties as far as reporting revenue, calculating and paying taxes.

Many property-management companies prepare TA and GE taxes for owners.  Some of them base these calculations on average revenues for a period. Not only is this system ripe for corruption. (How does the DoT know what the company really took in?)  It also means that individual owners using these companies to do their tax calculations are not individually paying precisely what they owe (only an average for all owners) and could be liable for underpayment (with penalties) or alternatively could be due refunds from the DoT.  This could  pose a nightmare for the property management companies, individual owners, as well as the DoT.  But in fairness, it would seem that the the property management agents preparing taxes and the owners who use them should not  be held to a lesser standard than other owners as far as precise reporting for each tax ID.  Something the lawyer could potentially add in his brief.

This just in...

HB 1706 no longer addresses vacation rental matters.  It addresses condominium meeting requirements and it is doubtful that the bill will go to conference.  So that measure is likely dead for this session.

Regards, Roz Baker

Senator Rosalyn H. Baker

Chair, Senate Committee on Commerce and Consumer Protection

5th District -- South and West Maui

 

 

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Re: Hawaii Trying to Kill VRBO

created by off-islander in Listings - View the full discussion

Something else to consider:

 

On the tax ID on website issue (a requirement of SB2947 and other bills), I noticed that Aston objected  because of the work involved as did Exclusive Gateways with Exclusive Gateways looking for an exception for property managed properties (with 10 or more properties).  Of course, if PMs are given an exception, that would be discriminatory.

 

 

 

But, to throw another spanner in the works...  If an important goal of the legislation is proper tax compliance, property managed properties should not be held to a lower standard than owner-managed properties as far as reporting revenue calculating and paying taxes.

 

 

 

Many property-management companies prepare TA and GE taxes for owners.  Often they base these calculations on average revenues for a period. Not only is this system ripe for corruption. (How does the DoT know what the company really took in?)  It also means that individual owners using these companies to do their tax calculations are not individually paying precisely what they owe (only an average for all owners) and could be liable for underpayment (with penalties) or alternatively could be due refunds from the DoT.  This could  pose a nightmare for the property management companies, individual owners, as well as the DoT.  But in fairness, it would seem that the the property management agents preparing taxes and the owners who use them should not  be held to a lesser standard than other owners as far as precise reporting for each tax ID.  Something the lawyer could potentially add in his brief.

 

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I am glad I don't work with a PM program like off-islander worked with.  If my

unit was rented out more because it was nicer I would want all that revenue to

go to me and then pay my fair share of the taxes.

rjwnn wrote:

 

SB 2947 SD2 HD2 - Senate disagreed with House amendments

House Conferees: McKelvey (Co-Chair), Keith-Agaran (Co-Chair), Choy (Co-Chair), Marumoto

Senate Conferees: Fukunaga (Co-Chair), Ige (Co-Chair), Slom

Meeting Date: Thursday, April 19 at 230 pm

I think what we're disagreeing with here is that off-island owners need to post a local agent's name on all advertising, bolded below:

The website address to a website containing the operator or plan manager's registration identification number shall be displayed conspicuously in all advertisements and solicitations and on all operator- or plan manager-maintained websites regarding transient accommodations for which the registration is issued, unless ten or fewer registration identification numbers are to be listed, in which case the registration identification number shall be displayed conspicuously directly on the advertisement, solicitation, or website; provided that if the operator resides out-of-state or on another island from where the transient accommodations are located, contact information of an agent who resides on the island on which the transient accommodations are located shall be included."

So we need to contact these folks today:

... Maybe tell them that "agent" wording is one step away from defining "agent" as a licensed real-estate agent, and thus taking away our right to manage our own property.

Conference committee meeting to reconvene on 04-25-12 1:00PM in conference room 423.http://www.capitol.hawaii.gov/measure_indiv.aspx?billtype=SB&billnumber=2947

So if you are in a rental pool and your place gets rented more because it is

nicer than the rest and you don't get more revenue I am still wondering how this

can be good.  I would assume that the places that rent more have higher utility

bills but it doens't sound like you get more revenue!!  Not to mention they get

more wear and tear and more things lost, misplaced, or stolen.  Oh well.  I will

never be in that situation thank God.