What percent of my gross rental income will I have to pay as general excise and transient accommodations taxes?

The general excise tax rate is 4% of your gross rental income from a lease. Beginning October 1998, if you are subleasing real property, you will be allowed a deduction of a percentage of your gross rental income over a seven year phase-in period so that the general excise tax rate on subleases would be the equivalent of 1⁄2%. For more information on subleasing, call (808) 587-4242 or toll-free at 1-800-222-3229. 

The transient accommodations tax rate is 7.25% of your gross rental income. Prior to July 1, 1994, the transient accommodations tax rate was 5% of your gross rental income. Prior to January 1, 1999, the transient accommodations tax rate was 6% of your gross rental income.