Filing a G-45 in Hawaii: A Step-by-Step Guide

by
How do I file a G-45?
Form G-45 is due on or before the 20th day of the calendar month following the end of the filing period. For example, if your filing period ends on January 31st, then your return will be due on February 20th. Form G-49 is due on or before the 20th day of the fourth month following the close of the tax year.
Read more on files.hawaii.gov

You must submit a General Excise Tax (GET) return, or G-45, if you own a business in Hawaii. The GET is a tax on a company’s gross income, which includes all services and tangible goods sold. We will walk you through the G-45 filing procedure and respond to some frequently asked questions about Hawaii taxes in this post.

In Hawaii, who is subject to general excise tax?

No matter how big or how organized, every company doing business in Hawaii must pay GET. This covers corporations, partnerships, single proprietorships, and LLCs. Additionally, GET is applicable to any company operating in Hawaii that sells tangible goods or renders services. How can I submit a G-45?

You must perform the following actions in order to file a G-45:

1. Choose your filing frequency: You will be given a filing frequency of monthly, quarterly, or annual, depending on your annual GET obligation. You must file annually if your annual liability is less than $4,000. You must submit quarterly if it is between $4,000 and $40,000. If the amount exceeds $40,000, you must file monthly.

2. Gather your documentation: You must have precise documentation of every gross income earned during the reporting period, as well as any permitted deductions.

3. Finish the G-45 form by: The G-45 form can be completed online or by mail. Make careful to precisely input all of your gross income and deductions.

4. Pay any tax obligations: If you owe money in taxes, you must pay it at the time of filing. You can mail a check or pay online.

Hawaii, how do I acquire my 1099 G online?

A 1099-G form will be delivered to you at the end of the year if you received unemployment compensation in Hawaii. The entire benefits you received and any taxes withheld are shown on this form. You can log in to the Hawaii Department of Labor and Industrial Relations website and follow the instructions to access your 1099-G online.

Is a Hawaii tax ID number required?

A Hawaii Tax Identification Number (HITIN) must be obtained if you run a business in Hawaii. This number serves as your company’s tax identification number and is necessary for submitting GET returns. On the website of the Hawaii Department of Taxation, you can submit an online application for an HITIN.

Is the general excise tax in Hawaii deductable?

No, you cannot deduct Hawaii general excise tax from your federal income tax return. If you itemize your deductions on your Hawaii state income tax return, it can be deductible.

In conclusion, submitting a G-45 in Hawaii is a must for every company doing business there. You may make sure that you are in compliance with Hawaii tax rules and avert any penalties or fines by following the instructions provided in this article.