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Clear Form G-71 (REV. 2003) STATE OF HAWAII ? DEPARTMENT OF TAXATION GENERAL EXCISE SUBLEASE DEDUCTION CERTIFICATE (Required for lessee’s files) PART I Information About the Lessor Name Address

How to fill out general excise sublease deduction

How to fill out general excise sublease deduction:

1. Gather all necessary information and documents related to the sublease agreement and rental payments.
2. On the appropriate tax form, indicate that you are claiming the general excise sublease deduction.
3. Provide the requested information about the sublease, including the name and address of the sublessor and sublessee, the duration of the sublease, and the amount of rent paid.
4. Calculate the deductible amount of rent by subtracting any allowable expenses or fees paid to the sublessor.
5. Enter the final deductible amount in the appropriate section of the tax form.
6. Double-check all the information provided and make sure it is accurate and complete.
7. Submit the tax form along with any supporting documents, if required, to the appropriate tax authority.

Who needs general excise sublease deduction?

1. Individuals or businesses who sublease a property from another party.
2. Sublessees who pay rent to a sublessor and wish to deduct a portion of that rent for tax purposes.
3. Anyone who qualifies for the general excise sublease deduction and wants to reduce their taxable income or liability.

For pdfFiller’s FAQs

What is general excise sublease deduction?

General excise sublease deduction refers to a deduction that can be claimed by businesses in Hawaii on their General Excise Tax (GET) returns. It allows the businesses to deduct the amount paid to another business for subleasing a property.

Who is required to file general excise sublease deduction?

Any business in Hawaii that has paid for subleasing a property from another business is required to file general excise sublease deduction on their GET returns.

How to fill out general excise sublease deduction?

To fill out the general excise sublease deduction, businesses need to provide information about the amount paid for subleasing, the name of the business they paid to, and other details as required by the Hawaii Department of Taxation.

What is the purpose of general excise sublease deduction?

The purpose of general excise sublease deduction is to allow businesses to reduce their tax liability by deducting the amount paid for subleasing a property from their gross receipts subject to the General Excise Tax.

What information must be reported on general excise sublease deduction?

On the general excise sublease deduction, businesses must report the amount paid for subleasing, the name of the business they paid to, and any other information required by the Hawaii Department of Taxation.

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