Filing G-45: Everything You Need to Know

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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

A G-45 tax form must be filed by every business owner in Hawaii, according to the law. In the state of Hawaii, the general excise tax (GET) is reported and paid using the G-45 form. In this article, we’ll go over how to submit a G-45 and respond to some frequently asked questions about it.

How to Fill Out a G-45 You have the option of filing a G-45 online or via mail. The Hawaii Department of Taxation advises using the online option as it is the most practical. You must register for an account on the Hawaii Tax Online website in order to file taxes online. You may conveniently submit your G-45 forms and make payments online once you’ve registered an account.

The G-45 form is available for download from the Hawaii Department of Taxation website if you would prefer to file by mail. The application must be completely and precisely filled out before being mailed together with a cheque or money order for the debt.

Is general excise tax deductible? Regrettably, general excise tax cannot be deducted from federal tax returns as a business expense. The general excise tax, however, is deductible by businesses on their Hawaii state tax forms.

When did the General Excise Tax in Hawaii begin? In 1935, the general excise tax in Hawaii was first put into effect. After starting out at 2%, it has since been raised to 4%.

What Are Hawaii’s Two Different Use Tax Rates? In Hawaii, there are two separate use tax rates: 4% for purchases made from a Hawaii merchant who is exempt from paying GET, and 0.5% for purchases made from outside the state. Use tax is a charge placed on the consumption, storage, or use of commodities in Hawaii that were exempt from GET. How Frequently Do I Pay Hawaii General Excise Tax? In Hawaii, companies must submit G-45 forms and submit monthly or semi-annual payments. The amount of general excise tax anticipated to be owing determines the frequency of payments. You must file and pay on a monthly basis if your company expects to owe more than $4,000 per year. You can file and pay on a semi-annual basis if your company expects to due less than $4,000 per year.

In conclusion, submitting a G-45 form is a crucial prerequisite for companies doing business in Hawaii. To prevent fines and interest costs, it’s crucial to file correctly and on time. The Hawaii Department of Taxation can provide assistance if you need it or if you have any issues about submitting your G-45 form.

FAQ
Correspondingly, where do i send my hawaii state tax return?

You should mail your Hawaii State Tax return to the following address if you need to: Department of Taxation, State of Hawaii, PO Box 1530, Honolulu, HI 96806-1530

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