BB1 Filing: Everything You Need to Know

What is bb1 filing?
Hawai?i Tax Online is the convenient and secure way to get a State Tax Identification Number (BB-1), file tax returns, make payments, manage your accounts, and conduct other common transactions online with the Hawai?i Department of Taxation.
Read more on portal.ehawaii.gov

You may have heard about BB1 filing if you own a business in Hawaii. Businesses in Hawaii are required to file BB1 forms in order to submit their General Excise Tax (GET) returns. This page will explain BB1 filings and address some associated queries about Hawaii taxes and company permits.

Describe BB1 Filing.

For all companies in Hawaii that have registered for GET, BB1 filing is necessary. GET is a tax that Hawaii firms must pay on their gross revenue. Currently, the average business pays 4% in taxes, whereas wholesalers pay 0.15%.

Businesses can notify the Hawaii Department of Taxation of their GET responsibility by submitting a BB1 form. Depending on their GET obligation, businesses must submit BB1 returns on a monthly, quarterly, or annual basis. The 20th of the month following the conclusion of the reporting period is the due date for BB1 submission.

In Hawaii, How Do I Obtain a Tax ID Number?

You must register your firm with the Hawaii Department of Taxation in order to obtain a tax ID number there. This can be done by mail or online. You must submit basic information about your company throughout the registration procedure, including the name, address, and kind of business entity.

After your firm has been registered, a tax identification number will be given to you. This number is needed for BB1 filing and is used to identify your business for tax purposes.

Does Hawaii accept out-of-state certificates for resale?

Businesses that are registered for GET in Hawaii may use out-of-state resale certificates. Businesses must, however, show evidence that they are qualified to utilize the resale certificate and that they are registered for GET in their home state. Does Selling Online Require a Business License?

If you are conducting business in Hawaii as a sole proprietorship or a single-member limited liability corporation (LLC), you do not require a business license to sell products online. However, you must get a business license from the Department of Commerce and Consumer Affairs if you are conducting business as a partnership, corporation, or multi-member LLC.

Do I Need a Business License to Sell on Etsy?

You don’t need a business license to sell on Etsy if you’re a sole proprietorship or a single-member LLC doing business in Hawaii. However, you must get a business license from the Department of Commerce and Consumer Affairs if you are conducting business as a partnership, corporation, or multi-member LLC.

For businesses in Hawaii that are registered for GET, BB1 filing is a requirement. You must register your firm with the Hawaii Department of Taxation in order to obtain a tax ID number there. If you are a sole proprietorship or a single-member LLC, Hawaii does recognize out-of-state resale certificates, and you do not need a business license to sell products online in Hawaii.