Form G-8a - Report Of Bulk Sale Or Transfer Page 2
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1
2IMPORTANT NOTICE
INSTRUCTIONS
FORM G-8A
(REV. 2008)
This report of bulk sale or transfer must be made by the seller not later than ten days after the possession, or the
control, or the title of the property, or any part thereof, has passed to the purchaser. The purchaser may make this report for
the seller. The purchaser of such property shall withhold payment of the purchase price until the receipt of a certificate (after
approval, the front page of the Report of Bulk Sale or Transfer will be the certificate) from the Director of Taxation to the
effect that all taxes, penalties and interest levied or accrued under Title 14, HRS, for taxes administered by the Department
of Taxation against the seller or constituting a lien upon such property have been paid. If this report of bulk sale or transfer is
not made, or if the taxes, penalties and interest are not paid within twenty days after the sale or transfer or within such
further time as the Department may allow, the purchaser shall be personally liable to pay the State the amount of all taxes,
penalties and interest levied or accrued under Title 14, HRS, for taxes administered by the Department of Taxation against
the seller or constituting a lien upon such property, together with penalties and interest thereafter accruing, not exceeding,
however, the amount of the purchase price.
DEFINITIONS
“Property” means anything that may be the subject of ownership, including every kind of asset, whether real or
personal, tangible or intangible, and without limitation, such as land and buildings, goodwill, notes, accounts, and other
intangible property. The term “property” shall not include any interest in residential real property.
“Purchase price” means the total fair market value, as of the date of sale or transfer, of all property transferred, whether
or not money or property is exchanged therefor.
“Purchaser” means any person who receives property in a bulk sale or transfer, whether or not money or property is
exchanged therefor.
“Sale” means the transfer of property for compensation.
“Seller” means any person who sells or transfers any property in bulk sale or transfer, whether or not money or property
is exchanged therefor.
“Transfer” means the sale, conveyance, or distribution by any mode, direct or indirect, absolute or conditional, voluntary
or involuntary, of title to or beneficial ownership in property, or interest therein. The term “transfer” does not include a bona
fide, arm’s length:
(1) Creation, modification, or termination of a lease interest;
(2) Creation, modification, or release of a lien or encumbrance; or
(3) Transfer occurring as a result of the enforcement of a lien.
INSTRUCTIONS
Inventory - Sale of inventory in a bulk sale or transfer is taxable at the general excise tax rate of 0.5%. The tax due
must be reported on Form G-45 and paid with a cashier’s check with this report. Enter the sale of inventory on the
“Wholesaling” line of Form G-45, and write “Bulk Sale” on the blank space next to “Wholesaling”.
Covenants Not to Compete - Sale of covenants not to compete in a bulk sale or transfer is taxable at the at the general
excise tax rate of 4%. The sale of covenants not to compete also is subject to the county surcharge tax at 0.5% if the
transaction is assigned to the City and County of Honolulu. The tax due must be reported on Form G-45 and paid with a
cashier’s check with this report. Enter the sale of covenants not to compete on the “Interest and All Others” line of Form
G-45, and write “Covenants” on the blank space next to “Interest and All Others”.
Goodwill - Sale of goodwill is not subject to the General Excise Tax.
Outstanding Taxes - If there are any outstanding taxes due or taxes owed, a cashier’s check must be submitted with
the tax returns or delinquent tax bills in order to process the report of bulk sale or transfer.
Who Must File - The report of bulk sale or transfer must be made by the seller. However, the purchaser may make this
report for the seller.
When to File - The report of bulk sale or transfer must be made no later than 10 days after the possession, or the
control, or the title of the property, or part thereof, has passed to the purchaser.
Where to File - The report of bulk sale or transfer should be mailed to:
HAWAII DEPARTMENT OF TAXATION
P. O. BOX 259
HONOLULU, HI 96809-0259
808-587-4242
1-800-222-3229
For additional information, please refer to Tax Information Releases Nos. 91-10 and 95-2.
FORM G-8A
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