A resale licence is crucial if you want to start a business in Hawaii and sell items that are subject to the state’s General Excise Tax (GET). A resale certificate, sometimes known as a resale permit, is a legal document that enables a company to buy products for resale without having to pay GET. What you should know about acquiring a resale permit in Hawaii is provided below.
When buying products to resell, a business gives a supplier or vendor a resale certificate as proof of the purchase. This document attests that the company intends to sell the products again and is thus exempt from paying GET on the acquisition. Only if GET is collected from the buyer at the moment of sale and the products are resold is the resale certificate legitimate.
You must register your firm with the Hawaii Department of Taxation in order to receive a Hawaii resale number. Utilizing Form BB-1, which is available on the department’s website, you can accomplish this both online and by mail. You will be required to submit basic company information, such as your company name, address, and federal tax identification number. A Hawaii Tax ID number, commonly referred to as your Hawaii resale number, will be given to you once your business has been registered.
You can apply for a resale certificate once you receive your Hawaii resale number. Form G-17, which is also accessible on the website of the Hawaii Department of Taxation, must be filled out in order to accomplish this. You must fill out this form with information about your company and a declaration that you are buying products for resale. You will be given a resale certificate as soon as the department approves your application.
Yes, a seller’s permission is required if you intend to sell things online in Hawaii. All companies operating in Hawaii that do retail sales, including those who offer products online, must have this permit. You must register your firm with the Hawaii Department of Taxation and get a Hawaii Tax ID number in order to apply for a seller’s permit. You must collect and submit GET on all taxable sales made in Hawaii once you acquire your seller’s permit.
Finally, getting a resale permit in Hawaii is a simple procedure that requires registering your company with the Hawaii Department of Taxation and receiving a Hawaii Tax ID number. You can apply for a resale certificate and buy products for resale without paying GET once you obtain your Hawaii resale number. A seller’s permit, which mandates that you collect and return GET on all taxable sales conducted in Hawaii, is also necessary if you intend to sell things online in Hawaii.