I acquired an existing Hawaii business with employees. Is it possible for my company to obtain the predecessors favorable unemployment insurance tax rate?
Hawaii UI tax law allows for the transfer of a predecessor’s tax rate and reserve balance in those instances where an employer succeeds to or acquires the organization, trade, or business, or substantially all of the predecessor’s assets (including employees). For a transfer to be considered, a properly executed Form UC-86, “Waiver of Employer’s Experience Record” must be signed by both parties and filed within statutory time limits. This form is available on the internet. To determine whether or not an employing unit has acquired substantially all of the assets of a predecessor employer, we consider: • The particular facts and circumstances in the case • Whether the capacity to furnish employment was transferred. • Whether the employing unit employs all or nearly all of the predecessor employer’s employees. There are three crucial dates employers must adhere to: • Form UC-86 must be completed and returned within 60 days from the date of the transfer to obtain the predecessor’s current
Hawaii UI tax law allows for the transfer of a predecessor’s tax rate and reserve balance in those instances where an employer succeeds to or acquires the organization, trade, or business, or substantially all of the predecessor’s assets (including employees). For a transfer to be considered, a properly executed Form UC-86, “Waiver of Employer’s Experience Record” must be signed by both parties and filed within statutory time limits. This form is available on the internet. To determine whether or not an employing unit has acquired substantially all of the assets of a predecessor employer, we consider: • The particular facts and circumstances in the case • Whether the capacity to furnish employment was transferred. • Whether the employing unit employs all or nearly all of the predecessor employer’s employees. There are three crucial dates employers must adhere to: • Form UC-86 must be completed and returned within 60 days from the date of the transfer to obtain the predecessor’s current
